1, 


West  Coast  Lumbermen's  Ass*n 


SEATTLE.  WASH. 


NEW  YORK  CITY 


PORTLAND.  ORE. 


UNIFORM 
COST  ACCOUNTING  SYSTEM^ 

(Price  $25.00) 


DEVISED  BY 

John  G.  Mcintosh — J.  G.  Mcintosh  &  Co.,  Certified  Public  Aocountants,   Seattle,   Wash, 
J.  P.  Robertson — Smith,  Robertson  &  Moorhouse,  Certified  Public  Accountants,  Seattle,  Wash. 
Paul   R.    Chaney — Whitfield,    Whitcomb    &    Co.,    Certified   Public   Accountants,   Portland,    Ore. 
C.  D.  Moore — ^The  Emerson  Engineers,   New   York. 


COST  ACCOUNTING  COMMITTEE 

F.  H.  JACKSON,  Clear  Lake,  Wash. 

W.  B.  NETTLETON,  Seattle,  Wash. 

E.    A.    POYNEER,   Everett,    Wash. 
C.   H.   WATZEK, 
J.    G.    McINTOSH,    Seattle    Wash. 

J.  P.  ROBERTSON,  Seattle,  Wash. 

P.  R.  CHANEY,     -    Portland,  Ore. 
C.  D.   MOORE, 


Wauna,   Ore. 


Seattle,  Wash. 


Montgomery  Printing  Co..  Seattle.  Wash. 


Copyrighted,    March    1919 


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FOREWOED. 

This  publication  is  for  the  purpose  of  presenting  to  the  lumber  industry, 
the  West  Coast  Lumbermen's  Association  Uniform  Cost  Accounting  System 
which  is  built  up  upon  correct  accounting  practice  and  sound  economic  principles. 

General  use  of  this  system  within  the  industry  will,  through  composite  ana- 
Ij^ses,  accurately  reflect  fundamental  conditions,  enabling  the  industry  to  so 
regulate  its  merchandising  that  it  will  not  be  the  last  of  staple  commodities,  in 
an  upward  swing  on  a  rising  market  nor  the  first  on  the  downward  swing,  never 
rising  relatively  as  high  as  other  staples,  and  always  falling  relatively  lower  as 
has  been  the  case  with  lumber  in  the  past. 

The  system  will  make  it  possible  for  the  industry  as  a  whole  to  appear  be- 
fore any  tribunal  and  obtain  justice,  whether  in  the  regulation  of  prices,  re- 
turns ion  capital  investment,  dealing  intelligently  with  the  labor  problem,  or  in 
the  enlighteiunent  of  the  public  in  matters  of  industrial  economics. 

Operators  will  know  definitely  what  returns  must  be  obtained  to  sustain  the 
industry  in  a  manner  commensurate  with  the  welfare  of  communities  which  are 
largely  dependent  upon  lumber  manufacturing  for  their  prosperity  and  civic  pro- 
gress. 

The  system  eliminates  guess-work  from  month  to  month  as  to  the  final  out- 
come of  the  year's  operation  in  profit  and  loss  statements. 

Each  concern  using  the  West  Coast  Lumbermen's  Association  Uniform  Cost 
xiccounting  System  will  know  the  industry's  composite  cost  of  lumber  through 
its  various  phases  or  steps  of  manufacture,  and  may  compare  such  costs  with 
similar  data  for  the  individual  operation. 

Each  concern  using  the  system  will  know  in  gr^de  percentage  what  consti- 
tutes the  typical  log  and  returns  therefor,  which  may  be  compared  with  its 
particular  results. 

The  system  will  enable  a  concern  to  determine  its  correct  profits  as  a  result 
of  operation,  excluding  capital  returns,  for  the  determination  of  income  and 
excess  profit  taxes. 

It  will  render  very  much  less  expensive  the  actual  installation  of  an  ac- 
counting system,  whether  the  work  is  done  by  professional  acounting  concerns  or 
by  the  company  itself. 


It  will  facilitate  the  auditing  of  a  company's  books  by  certified  public  ac- 
countants. 

Correct  accounting  methods  and  properly  authenticated  reports  have  meant 
much  to  mills  in  the  negotiation  of  property  sales,  the  negotiation  of  credit, 
the  adjusting  of  fire  losses,  and  the  safe- guarding  against  financial  loss  through 
clerical  mistakes  or  through  fraud. 

The  adoption  of  this  system  will  result  in  a  saving  in  stationery  expense, 
making  it  possible  to  keep  in  a  central  place,  a  supply  of  standard  stationery 
that  can  be  drawn  upon  as  needed. 

The  system  will  enable  the  operator  to  at  all  times  know  how  his  invest- 
ment per  thousand  feet  of  annual  output  compares  with  that  of  the  industry  as 
a  whole. 

Similar  comparison  is  accurately  possible  as  to  all  cost  segregations  apply- 
ing to  labor,  supplies  and  other  expense. 

The  system  explains  the  handling  of  each  account  in  detail.  Entries  are 
followed  through  the  books  to  the  condensed  operating  statement  and  balance 
sheet. 

Each  form  is  fuly  explained  as  to  entries  to  be  made  in  each  column  and  the 
proper  procedure  to  be  followed  in  transferring  to  the  general  ledger  and  sub- 
sidiary ledger.  Arrangement  of  forms  and  the  numbering  thereof  provide  for 
the  expansion  and  elaboration  of  the  system  for  such  operations  as  require  it. 
The  forms  also  provide  for  the  elimination  of  detail  in  small  operations  with- 
out altering  the  general  plan  or  results. 

The  standard  classification  of  this  system  calls  for  nineteen  segregations  of 
logging  costs,  but  the  small  operator  may  carry  only  such  items  as  logging,  rail- 
road,, sundries,  depreciation  and  stumpage,  which,  if  segregated,  as  between 
labor,  supplies  and  other  expense,  as  outlined,  will  be  wholly  comparable  in  to- 
tals with  other  operations  which  may  use  the  complete  classification. 

Under  manufacturing  costs,  standard  or  complete  classification  calls  for 
eighteen  segregations.  Small  operators,  however,  may  find  it  more  desirable  to 
carry  only  sawing,  yard,  sundries  and  depreciation,  which,  if  built  up  as  to  out- 
lined instructions,  will  result  in  entirely  comparable  totals. 

It  should  be  kept  in  mind  that  the  system  was  designed  in  application  to  the 
industry  as  a  whole  and  not  to  a  particular  operation.     It,  therefore  was  nee- 


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essary  to  adopt  certain  fundamental  principles  as  standard,  including  the  fol- 
lowing : 

The  setting  up  of  logging  as  a  distinct  operation. 

The  carrying  f.  o.  b.  sales  and  underweights  as  separate  returns  f6r  pro- 
duct. 

The  carrying  of  shipping  as  a  separate  cost. 

The  carrying  of  interest  and  discount  as  a  financial  cost. 

The  West  Coast  Lumbermen's  Association  Uniform  Cost  Accounting  Sys- 
tem has  been  designed  by  experts, — experienced  specialists  in  lumber  account- 
ing practice. 

The  Association  desires  to  make  this  acknowledgment  of  the  conscientious 
and  intelligent  effort  of  the  men  who  have  given  of  their  experience,  time  and 
thought  to  the  perfecting  of  the  Uniform  Cost  Accounting  System — to  Mr.  John 
G.  Mcintosh,  C.  P.  A.,  of  John  G.  Mcintosh  &  Company  of  Seattle,  Wash.; 
Mr.  J.  P.  Eobertson,  C.  P.  A.,  of  Smith,  Robertson  &  Moorhouse,  Seattle, 
Wash.;  Mr.  Paul  R.  Chaney,  C.  P.  A.,  of  Whitfield,  Whitcomb  &  Company, 
Portland,  Oregon ;  and  Mr.  C.  D.  Moore  of  The  Emerson  Engineers,  New  York. 

WEST  COAST  LUMBERMEN'S  ASSOCIATION 

Robert  B.  Allen,  Secretary-Manager. 


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AcTUflU    SiziE     7  x.  11 

^ 

WEST  COAST  LUMBERMEN'S  ASSOCIATION 
UNIFORM  COST  ACCOUNTING  SYSTEM 

FORMS 

1.  Cash  Receipts  and  Settlement  Journal. 

2.  Check  Register. 

3.  Journal  and  Voucher  Register. 

4.  Sales  Journal. 

5.  Sales  Analysis. 

6.  Distribution. 

7.  Journal  Voucher. 

8.  Insurance  Register. 

9.  Prepaid  Supplies  and  Expenses  Register. 
lOA.  Accounts  Receivable. 

lOB.  Accounts  Receivable. 

IOC.  Accounts  Receivable. 

15.  Pay  Roll. 

16A.  Time  Sheet  (Camp). 

16B.  Time  Sheet  (Mill). 

30.  Condensed  Comparative  Balance  Sheet. 

31.  Condensed   Operating   Statement. 

32 A.  Detailed   Operating    Statement    (1). 

32B.  Detailed    Operating    Statement    (2.) 

32C.  Detailed    Operating    Statement    (3  ) 


n 


WEST  COAST  LUMBERMEN'S  ASSOCIATION 
UNIFORM  COST  ACCOUNTING  SYSTEM 

CHART  OF  ACCOUNTS. 

ASSETS. 
No.  Account. 

lA  Petty  Cash  Fund. 

IB  Cash  (Undeposited). 

IC  Bank. 

ID  Bank. 

2  Accounts  Receivable. 

3A  Notes  and  Acceptances  Receivable. 

3E  Notes  and  Acceptances  Endorsed. 

4A  Inventories — Logs   (Woods,  Landing,  Booming,  Ground,  Mill  Pond.) 

4B  — ^Lumber. 

4C  —Lath. 

4D  —Wood. 

4E  — Box  Factory. 

4F  —Cut  Up  Factory. 

4G  — Shingles. 

4H  — Stock  of  Supplies. 

41  . — Store  Merchandise. 

4J  — Camp  Commissary. 

4K  —Hotel. 

4L  — Mill  Mess  House.' 

4M  — Camp  Mess  House. 

4N  — Camp  Wood. 

5A  Investments — U.  S.  Liberty  Bonds. 

5B  — Stocks  and  Bonds. 

5C  — Real  Estate   (non-operating). 

9  Sinking  Fund. 

10  Timber  and  Timber  Land. 

IIA  Real  Estate— Mill  Site. 

IIB  — Townsite  and  Others. 

12A  Manufacturing    Plant — Buildings. 
12B  — Equipment. 

13  Logging  Equipment. 

14  Railroad. 

15  Furniture  and  Fixtures. 

16  Stock  in  Subsidiary  Companies. 

20  Unexpired  Insurance  Premiums. 

21  Prepaid  Supplies  and  Expenses. 

22  Temporary  Spurs. 


CHART    OF   ACCOUNTS— Continued. 

LIABILITIES 

No.  Account. 

30A  Pay  Roll. 

30B  Time  Orders  Payable. 

30C  Commissions  Payable. 

31A  Vouchers  Payable. 

31 B  Accounts  Payable. 

32A  Notes  and  Acceptances  Payable. 

32B  Accrued  Interest  Payable. 

32C  Collateral  Notes  Payable. 

32E  Notes  and  Acceptances  Endorsed. 

33  Unredeemed  Coupons. 

34  Accrued  Taxes. 

40  Reserve — For  Bad  and  Doubtful  Accounts  and  Notes. 

41  — For  Anticipated  Discounts.  - 

42  — For  Freight. 

44  — For  Depreciation. 

45  — For  Anticipated  Repairs. 

46  — For  Shut  Down  Overhead. 

49  Mortgage  Bonds. 

CAPITAL. 

50  Capital  Stock. 
51A  Surplus — 

51B  — Timber  and  Timber  Land  Appreciation. 

52  Profit  and  Loss. 


CHART    OF   ACCOUNTS— Continued. 

REVENUES. 

No.  Account. 

60A  Logs  Sawn — Saw  Mill. 

60B  Logs  Sawn — Shingle  Mill. 

60C  Logs  to  Others. 

60D  Logs  Lost  and  Used. 

61A  Lumber — Rail. 

61B  — Cargo. 

61 C  — ^Local. 

61D  — Company  Use. 

061  — ^Allowances    (Deduct  from  Sales). 

62A  Underweights  — Lumber. 
62B  —Lath. 

62C  —Box  Shooks. 

62D  —Shingles. 

62E  — Miscellaneous. 


63 

Lath. 

64 

Wood  and  Saw  Dust. 

65A 

Box  Shooks. 

65B 

Cup  Up  Factory. 

67 

Shingles. 

68B 

Lumber  Sales — Direct  Shipments, 

70A 

Store — Merchandise. 

70B 

Camp  Commissary. 

72A 

Hotel. 

72B 

Mill  Mess  House. 

72C 

Camp  Mess  House. 

72D 

Camp  Bunli  Houses. 

75 

Barn. 

76 

Power,  Light  and  Water. 

78 

Rentals. 

79 

Floating  Equipment. 

85 

Outside  Services. 

86  Stumpage — Profit  and  Loss. 

87  Sundry  Income. 

88  Discounts  Taken. 

89  Interest  Received. 


CHART    OP   ACCOUNTS— Continued. 

PURCHASES. 

No.  Accounts. 

90A  Logs  Sawn. 

90B  Logs  Purchased. 

93  Lath. 

95A  Lumber  to  Box  Factory. 

95B  Lumber  to  Cut  Up  Factory. 

97A  Shingle  Mill— Logs. 

97B  Shingles  Purchased. 

98A  Lumber  Purchased — Mill. 

98B  Lumber    Purchased—Direct    Shipment. 

OPERATING  COSTS  &  EXPENSES  CONTROLS. 

A  Labor. 

B  Supplies. 

C  Expenses. 

D-E '  Repairs. 

400  Power,  Light  and  Water. 

410  Blacksmith  and  Machine   Shop — Mill. 

420  —Camp. 

500  Selling — Administrative. 


CHAET    OF   ACCOUNTS— Continued. 


OPERATING  COSTS. 


LOGGING. 

Labor 

Supplies 

Expense 

Repairs 

Labor 

Material 

No. 

Account. 

A 

B 

C 

D 

E 

100 

Contract  Logging. 

lOOA 

lOOB 

lOOC 

lOOD 

lOOE 

]01 

Rigging  Ahead. 

lOlA 

lOlB 

102 

Falling  &  Bucking. 

102A 

102B 

103 

Yarding  &  Loading. 

103A 

103B 

103D 

103E 

104 

Wire  Rope. 

104B 

109 

Depreciation — Logging. 

109C 

110 

Railroad. 

llOA 

HOB 

HOC 

HOD 

HOE 

111 

Spur  Tracks. 

lllA 

lllB 

lllC 

112 

Water  Haul. 

112C 

113 

Other  Haul. 

113A 

113B 

113C 

113D 

113E 

114 

Booming  &  Rafting. 

114A 

114B 

114C 

114D 

114E 

115 

Boom  Stick  Towing. 

115C 

119 

Depreciation — Transportation. 

119C 

120 

Salaries  &  Wages. 

120A 

120C 

121 

Sundry  Expenses. 

121C 

122 

Anticipated  Repairs. 

122C 

123 

Shut  Down  Overhead. 

123C 

128 

Logs  Lost. 

128C 

130 

Stumpage. 

130C 

CHART  OF  ACCOUNTS— Continued. 


OPERATING  COSTS— Continued. 


MANUFACTURING. 


Repairs 


Labor 

Supplies 

Expense 

Labor 

Material 

Pond  or  Log  Yard 

A 

B 

C 

D 

E 

200 

200-A 

200-B 

200-C 

200-D 

200-E 

201 

Saw  Mill 

201-A 

201-B 

201-C 

201-D 

201-E 

202 

Sorting    Table 

202-A 

203 

Dry  Kiln 

203-A 

203-B 

203-C 

203-D 

203-E 

204 

Yard — Timber  Dock 

204-A 

205 

— Transportation 

205-A 

205-B 

205-C 

205-D 

205-E 

206 

— Piling 

206-A 

. 

207 

— Rough  Dry  Shed 

207-A 

208 

— Dry  Sorting 

208-A 

209 

—Finished   Shed 

209-A 

210 

— General 

210-A 

210-B 

210-C 

210-D 

210-E 

220 

Planing  Mill 

220-A 

220-B 

220-C 

220-D 

220-E 

221 

Sizer 

221-A 

229 

Depreciation 

229-C 

230 

Salaries  and  Wages. 

230-A 

230-C 

231 

Sundry  Expenses 

231-C 

232 

Anticipated  Repairs 

232-C 

233 

Shut  Down  Overhead 

233-C 

300 

Lath 

300-A 

300-B 

300-C 

300-D 

300-E 

310 

Wood 

310-A 

310-B 

310-C 

320 

Box  Factory 

320-A 

320-B 

320-C 

320-D 

320-E 

330 

Cut  Up  Factory 

330-A 

330-B 

330-C 

330-D 

330-E 

340 

Shingle  Mill 

340-A 

340-B 

340-C 

340-D 

340-E 

390     Shipping 


390-A      390-B      390-C 


CHART  OF  ACCOUNTS— Continued. 

OPERATING  EXPENSES. 

SELLING. 
No.  Account. 

510  Advertising. 

511  Salesmen's  and  Selling  Salaries. 

512  Salesmen's  Expenses. 

513  Commissions. 

514  Branch  Expenses. 

ADMINISTRATIVE. 

550  Executive  Salaries. 

551  Office  Salaries. 

552  Stationery,  Printing  &  Office  Supplies. 

553  Rent  and  Light. 

554  Postage,  Telephone  &  Telegraph. 

555  Ofr  i^e    V^  n  k 

556  Professional  Services. 

557  Sundry  Expenses. 

558  Fire  and  Boiler  Insurance. 

559  Liability  Insurance. 

561  Taxes. 

562  Depreciation — Furniture  and  Fixtures. 

570  Bad  and  Doubtful  Debts. 

571  Discounts  Allowed. 

572  Interest  Paid. 

573  Special  Losses. 

574  Timber  Interest,  Taxes  and  Expenses. 


lA— PETTY  CASH  FUND 

Dr:  Or 

With  amount  of  fund  created  to  meet 
petty  disbursements. 


No  further  entries  shall  be  made  to  this  account  unless  the  fund  is  either  in- 
creased or  decreased. 

A  fixed  office  working  fund  shall  be  established  for  the  purpose  of  meeting 
petty  disbursements.  Receipted  vouchers  shall  be  obtained  for  all  payments  from 
the  fund.  When  the  fund  gets  low  and  at  the  close  of  each  month  the  vouchers 
shall  be  added  and  fastened  together  and  a  check  drawn  for  the  exact  amount. 
This  amount  shall  be  distributed  through  the  Journal  and  Voucher  Register, 
Form  3,  the  total  being  entered  in  Vouchers  Payable  column  31- A  and  charged  to 
accounts  affected. 


r^rrrTRq 


IB— CASH   (Undeposited) 


Dr: 


Cr 


With  cash  on  hand  when  books  are 
opened. 

With  total  of  cash  column  on  Cash 
Receipts  and  Settlement  Journal,  Form 
1. 


With  total  of  deposits  column  on 
Cash  Receipts  and  Settlement  Journal, 
Form  1. 


The  purpose  of  this  account  is  to  record  all  cash  received  (excluding  petty 
cash  fund)  until  deposited.  If  all  receipts  are  entered  immediately  in  the  de- 
posits column  this  account  will  not  be  required. 


:!(] 


.Dot 


10— BANK 


Dr: 


Or: 


With  the  balance  on  deposit  in  the 
bank  when  books  are  opened. 

At  the  close  of  each  month  with  de- 
posits during  the  month  from  Cash 
Receipts  and  Settlement  Journal, 
Form  1. 


At  the  close  of  each  month  with  total 
of  checks  issued  per  Check  Register, 
Form  2. 


An  account  shall  be  opened  with  each  bank  and  numbered  IC,  ID,  etc. 


:i() 


2— ACCOUNTS  RECEIVABLE 


Dr: 


Or: 


With  balance  of  open  Accounts  Re- 
ceivable when  books  are  opened. 

With  total  charges  to  accounts  from 
Accounts  Receivable,  column  2,  in 
Sales  Journal,  Form  4,  and  from 
Journal  and  Voucher  Register,  Form 
3. 


With  total  Accounts  Receivable 
credits  from  Cash  Receipts  and  Settle- 
ment Journal,  Form  1,  and  Journal 
and  Voucher  Register,  Form  3. 


When  several  controlling  accounts  are    desired,    separate    Ledger    Accounts 
shall  be  opened,  such  as, 

2A— Rail 
2B— Cargo 
2C— Local 
2D — Employees, 
Etc. 


£t3dW 


3A— NOTES  AND  ACCEPTANCES    RECEIVABLE 


Dr: 


Or: 


With  balance  of  Notes  and  Ac- 
ceptances Receivable  on  hand  when 
books  are  opened. 

With  total  of  column  3A  Cash  Re- 
ceipts and  Settlement  Journal,  Form 
1. 


With  total  of  column  3A  Cash  Re- 
ceipts and  Settlement  Journal,  Form 
1. 

With  Notes  and  Acceptances  Re- 
ceivable charged  back  to  customers' 
accounts  from  Journal  and  Voucher 
Register,  Form  3. 


A  Note  and  Acceptance  Register  shall  be  kept  and  reconciled  with  the  bal- 
ance of  this  controlling  account  monthly,  if  a  considerable  number  of  notes  and 
acceptances  are  handled. 


.t 


3E— NOTES  AND  ACCEPTANCES  ENDORSED 


Dr: 


Or: 


With  all  Notes  and  Acceptances,  not 
matured,  endorsed  for  either  discount 
or  accommodation,  when  books  are 
opened. 

With  paper  discounted  or  endorsed 
during  the  month  from  Journal  and 
Voucher  Register,  Form  3.  Credit 
Notes  and  Acceptances  Endorsed  32E. 


With  total  Notes  and  Acceptances 
discounted  or  endorsed,  paid  or 
charged  back  to  customers'  accounts 
from  Journal  and  Voucher  Register 
Form  3.  Charge  Notes  and  Accept- 
ances Endorsed  32E. 


Charges  and  credits  to  this  accoimt  are  offset  by  credits  and  charges  to  ac- 
count 32E. 


4— INVENTORIES 
(4A  to  4M,  inclusive,  excepting  4H) 

Dr:  Or: 

With  physical  inventory   at  begin-  At  the  close  of  fiscal  period,  with 

ning  of  fiscal  year.  inventory  shown  on  the  debit  side  of 

this  account. 


Accounts  4A  to  4G,  inclusive,  shall  show  the  quantity  in  feet  B.M.  or  units. 


4H— INVENTORY  STOCK  OF   SUPPLIES 


Dr: 


Cr: 


With  physical  inventory  when  books 
are  opened. 

With  cost  of  supplies  and  materials 
purchased  for  stock. 


With  cost  of  supplies  and  materials 
drawn  from  stock  on  requisition. 

With  physical  inventory  when  books 
are  closed. 


This  is  a  store  account  covering  supplies  and  material  that  are  not  charged 
direct  from  invoice  to  operations  but  are  first  put  in  stock  and  later,  as  used, 
charged  on  requisition.  It  is  recommended  when  practical  that  all  material  and 
supplies  pass  through  this  account. 

It  must  be  cleared  of  any  balance  at  close  of  fiscal  period  by  either  a 
charge  or  credit  to  operating  expenses  pro  rata.    See  account  21. 


:'/) 


iUJUTJ' 


4N— CAMP  WOOD 


Dr: 


Or: 


With  inventory  when  books  are 
opened. 

With  stumpage  on  timber  used  for 
fuel,  crediting  account  60D. 

With  approximate  cost  per  M  of 
falling  and  bucking,  and  yarding  and 
loading,  crediting  account  60D. 

With  labor  of  cutting  logs  into  fuel 
when  done  specially,  direct  from  pay- 
roll through  Journal  and  Voucher 
Register  Form  3. 


With  cords  of  fuel  used  by  yarding 
and  loading,  railroad,  mess  house,  and 
bunk-houses,  etc.,  and  chargeable  to 
these  accounts  at  an  estimate  cost  suf- 
ficient to  clear  debits  under  Supplies. 

With  inventory  of  wood  at  end  of 
period  at  cost. 


This  account  must  be  cleared  of  any  balance  at  close  of  fiscal  period  by 
either  a  charge  or  credit  to  operating  supplies  proportional  to  the  estimated 
consumption  of  wood  by  the  railroad,  donkeys,  camp  mess  houses,  etc. 


,IT 


5A— INVESTMENTS  U.  S.   LIBERTY  BONDS 


Dr: 


Cr: 


With  the  cost  of  all  U.  S.  Liberty 
Bonds  when  books  are  opened. 

With  the  cost  of  all  U.  S.  Liberty 
Bonds  purchased  thereafter. 


With  cost  of  Bonds  sold,  adjusted 
by  any  entries  made  to  take  care  of 
amortization. 


Profit  realized  or  loss  taken  on  sale  of  bonds  shall  be  credited  or  charged 
to  Sundry  Income  Account  87,  which  will  be  closed  to  Profit  and  Loss  at  end  of 
year. 

Interest  earned  shall  be  credited  to  Interest  Received  Account  89. 

When  Bonds  are  purchased  above  or  below  par,  the  amount  of  interest  re- 
ceived taken  as  income  should  be  adjusted  by  amortization. 


a 


5B— INVESTMENTS— STOCKS  AND  BONDS. 


Dr: 


Cr: 


With  the  book  value  of  Stocks  and 
Bonds  other  than  Government  when 
books  are  opened. 

With  the  cost  of  Stocks  and  Bonds 
purchased  therafter. 


With  book  vahie  or  cost  of  Stocks. 

With  the  book  value  or  cost  of  Bonds 
sold,  adjusting  by  any  entries  made 
to  take  care  of  amortization. 


Profit  realized  or  loss  taken  on  sale  of  Stocks  and  Bonds  shall  be  credited 
or  charged  to  Sundry  Income  Account  No.  87,  which  will  be  closed  to  Profit  and 
Loss  at   end  of  year. 

Interest  earned  shall  be  credited  to  Interest  Received,  Account  No.  89. 

When  Bonds  are  purchased  above  or  below  par,  the  amount  of  interest  re- 
ceived taken  as  income,   should  be   adjusted  by  amortization. 

Stock  in  Subsidiary  Companies  should  be  recorded  in  account  16. 


5C— REAL    ESTATE— (Non-Operating) 

Dr:  Or: 

With  the  cost  or  book  value  of  all  With  book  value   or   cost   of   Real 

Real   Estate   owned   when   books    are        Estate  sold, 
opened. 

With  cost  of  Real  Estate  acquired 
thereafter. 


Profit  realized  or  Loss  taken  on  sale  of  Real  Estate  shall  be  credited  or 
charged  to  Sundry  Income  Account  No.  87,  which  will  be  closed  to  Profit  &  Loss 
at  end  of  year. 

Operating  expenses  and  rentals  shall  be  recorded  in  Account  No.  78. 

Important  properties  shall  have  separate  accounts  designated  as  5C1,  5C2, 
etc.,  and  where  there  are  a  large  number  of  separate  parcels  a  subsidiary  rec- 
ord should  be  kept. 


.r.)-^ii;:*0 


9— SINKING   FUND 


Dr: 


Cr: 


With  balance  of  Sinking  Fund  when 
books  are  opened. 

With  subsequent  deposits  or  invest- 
ments. 


With  payments  to  retire  indebted- 
ness, or  with  proceeds  of  investments 
to  be  immediately  used  in  retiring  in- 
debtedness. 


Profit  or  Loss  on  sale  of  Sinking  Fund  investments  shall  be  debited  or  cred- 
ited to  this  account  and  credited  or  debited  to  Sundry  Income  87. 


10— TIMBER  AND  TIMBER  LAND 


Dr: 


Cr: 


With  feet  and  book  value  of  Stump- 
age  and  Timber  Land  owned  when 
books  are  opened. 

With  feet  and  cost  of  all  purchases 
thereafter. 


With  feet  and  book  value  or  cost 
of  all  timber  disposed  of. 


Any  profit  realized  on  Stumpage  shall  be  carried  to  Stumpage  Profit  & 
Loss,  account  No.  86,  which  shall  be  analyzed  at  the  end  of  fiscal  or  calendar 
year  for  the  purpose  of  Income  Tax  return. 

This  account  shall  be  detailed  in  subsidiary  records  to  show  description, 
species,  cruises,  etc. 

For  an  accurate  accounting  on  timber  investments  the  difference  between 
the  cruise  and  production  must  be  taken  into  consideration. 


riff 


IIA— REAL  ESTATE— MILL  SITE 
Dr:  Or: 

With  book   value   when   books   are  With  book   value   or   cost   of   land 

opened.  sold. 

With    cost   of   additional   land   for 
plant  purposes. 


.bi<>8 


IIB— REAL   ESTATE— TOWN    SITE  AND  OTHER 


Dr: 


Or: 


With    book   value   when   books   are 
opened. 

With    cost    of    acquirements    there- 
after. 

With  cost  of  additions,  betterments, 
improvements  and  assessments. 


With  book  value  or  cost  of  Real 
Estate  sold. 

With  book  value  or  cost  of  build- 
ings or  improvements  abandoned  or 
sold. 


Difference  between  income   from   sale  of  property  and  value  at  which  it 
was  taken  into  account  shall  be  carried  to  Sundry  Income,  account  No.  87. 

Important  properties  shall  have  separate    accounts    designated    as    11-Bl, 
11-B2,  etc. 

In  cases  where  there  are  a  large  number  of  buildings  there  should  be  sub- 
sidiary records. 


:iO 


.Hbi 


12A— MANUFACTURING    PLANT—  BUILDINGS 
Dr:  Cr: 

With   book   value   when   books   are  With  book  value  or  cost  of  buildings 

opened.  torn  down  or  abandoned. 

With  cost  of  new  buildings  acquired 
or  constructed  thereafter. 

With  cost  of  additions,  betterments 
and  improvements. 


Separate  accounts  should  be  kept  for  each  building  or  group  of  buildings 
and  numbered  12A1,  12A2,  etc. 


12B— MANUFACTURING    PLANT— EQUIPMENT 

Dr:  '  Cr 

With   book   value    when   books    aro     With  book  value  or  cost  of  equip 
opened.  ment  sold  or  abandoned. 

With  cost  of  acquirements  there- 
after. 

With  cost  of  additions,  betterments 
and  improvements. 


Separate  accounts  should  be  kept  for  each  group  of  machines  and  equip- 
ment such  as  saw  mill,  planing  mill,  horses,  etc.,  and  numbered  12B1,  12B2, 
etc. 


13— LOGGING  EQUIPMENT 

Dr:  Or; 

With  book   value   when   books   are  With  book  value  or  cost  of  equip- 

opened.  ment  sold  or  abandoned. 

With    cost    of    acquirements    there- 
after. 

With  cost  of  additions,  betterments 
and  improvements. 


Separate  accounts  should  be  kept  for  each  class  of  equipment  such  as  don- 
key engines,  tools,  camp  buildings,  etc.,  and  numbered  13A,  13B,  etc. 


14— RAILROAD 
Dr:  Cr: 

With   book   value   when   books   are  With  book  value  or  cost  of  equip- 

opened.  ment  sold  or  abaridoned. 

With    cost    of    acquiremeuts    there- 
after. 

With  cost  of  additions,  betterments 
and  improvements. 


Separate  accounts  should  be  kept  for  each  class  of  facility  such  as,  main 
line,  rolling  stock,  tools,  spur  steel,  buildings,  etc.,  number  14A,  14B,  etc. 


.-.^T 


15— FUENITURE   AND    FIXTURES 

Dr:  Or: 

With  book   value   when   books   are  With  book  value  or  cost  of  furni- 

opened.  ture  or  fixtures  sold  or  abandoned. 

With  cost  of  fixtures  acquired  there- 
after. 


lO 


16— STOCK   IN   SUBSIDIARY   COMPANIES 

Dr:  Or: 

With  book  value  or  cost  when  books  With  book  value  or  cost  of  stock 

are  opened.  disposed  of. 

With  additional  investments. 


-ii>  .DOiXyo 


20— UNEXPIRED    INSURANCE    PREMIUMS 


Dr: 


Or: 


With     unexpired     premiums     when 
books  are  opened. 

With  premiums  paid  or  payable. 


With  the  total  of  monthly  pro  rata 
columns  for  respective  months  from 
the  Insurance  Register,  Form  8,  charg- 
ing account  558. 


The  purpose  of  this  account  is  to  control  the  Unexpired  Insurance  Prem- 
iums as  detailed  in  Insurance  Register,  Form  8,  and  the  balance  should  be 
reconciled  periodically. 


*dil 


fiJtfliQiq 


21— PREPAID  SUPPLIES  AND  EXPENSES 


Dr: 


Cr: 


With  items  of  supplies  and  expenses 
paid  or  payable  in  advance  when  the 
books  are  opened. 

With  similar  items  incurred  there- 
after. 


With  total  of  monthly  pro  rata  for 
respective  months  as  shown  by  Pre- 
paid Supplies  and  Expense  Register, 
Form  9. 


The  purpose  of  this  account  is  to  distribute  the  charges  for  operating  ex- 
penses, which  benefit  more  than  one  month,  over  the  period,  during  which  such 
benefit  accrues. 

Chargeable  to  this  account  shall  be  expenses  paid  in  advance  such  as  taxes, 
licenses,  rent,  etc.,  and  supplies  such  as  wire  rope,  mill  saws,  etc.  This  ac- 
count shall  control  Prepaid  Supplies  and  Expenses  as  detailed  in  Register 
Form  9. 


^^f 


Miiub  Jbohoi] 


22— TEMPOEARY  SPURS 

Dr:  Cr: 

With   labor  clearing  right   of  way,  With  pro  rata  charge  to  lllC  dur- 

grading,  laying  and  removing  tracks,         ing  operating  months, 
etc.     (Falling  and  Bucking  prelimin- 
ary to  clearing  right-of-way  should  be 
charged  account  102.) 

With  material  and  supplies  used  in 
building  and  removing  temporary  spur 
tracks,  such  as  new  ties,  explosives, 
small  tools,  bolts,  spikes,  etc.,  (steel 
rails,  frogs,  switches,  and  connections 
should  not  be  charged  this  account, 
but  should  be  capitalized  under  Rail- 
road, account  14.) 


In  extensive  operations  the  cost  of  temporary  spurs  should  be  charged 
to  this  account  and  transferred  to  lllC  monthly  during  the  operating  period 
preferably  on  a  per  M  basis.  An  individual  record  should  be  kept  for  each  Tem- 
porary Spur  constructed. 


.AiiU' 


U'*oqo    ■.,:  r 


Vmfl  10  i  ad 


iidi  -gaiiub  \idiiiom  Ottl  oi  bQiia^da^'ii  baa  imrc 

.bodou'itaj:  loq 


30A— PAY  ROLL 


Dr: 


Or: 


With  charges  from  Check  Register, 
Form  2. 

With  all  deductions  appearing  on 
Pay  Roll,  from  Journal  and  Voucher 
Register,  Form  3. 


With  balance  due  for  Pay  Roll  when 
books  are  opened. 

With  amount  of  Pay  Roll  as  entered 
in  Journal  and  Voucher  Register. 
Form  3. 


// 


&<i 


30B— TIME  ORDERS  PAYABLE 


Dr: 


Cr: 


With    Time    Orders    paid    during 
month,  from  Check  Register,  Form  2. 


With  Time  Orders  outstanding 
when  books  are  opened. 

With  Time  Orders  issued  thereaf- 
ter, from  Journal  and  Voucher  Regis- 
ter, Form  3. 


Time  Orders  (Time  Checks)  are  issued  to  employees  between  regular  pay- 
days, ordinarily  by  time-keepers  or  foremen  in  lieu  of  regular  pay  roll  or  other 
checks  by  General  Office,  and  are  usually  issued  at  places  distant  from  General 
Office. 


30C— COMMISSIONS   PAYABLE 


Dr: 


Cr: 


With  coimnissions  paid  from  Check 
Register,  Form  2. 

With  total  commissions  payable 
from  Cash  Receipts  and  Settlement 
Journal,  Form  1. 

With  adjustment  of  commission 
items  (marked  30C)  from  the  General 
Ledger  column  on  the  charge  side  of 
Cash  Receipts  and  Settlement  Jour- 
nal, Form  1. 

With  commission  adjustments  from 
Journal  and  Voucher  Register,  Form 
3. 


With     commissions     unpaid     when 
books  are  opened. 

With  commissions  earned  thereaf- 
ter from  Sales  Register,  Form  4. 

With  adjustments  of  commission 
items  (marked  30C)  from  the  General 
Ledger  column  on  the  credit  side  of 
Cash  Receipts  and  Settlement  Journal, 
Form  1. 

With  commission  allowance  or  ad- 
justments from  Journal  and  Voucher 
Register,  Form  3. 


For  large  operations  this  account  may  be  used  as  a  control  account  for 
Commissions   Payable   Ledger. 


1(1 


31A— VOUCHERS  PAYABLE 


Dr 


Cr; 


With    total     vouchers     paid     from' 
Check  Register,  Form  2. 

With  adjustments  from  Journal  and 
Voucher  Register,  Form  3. 


With  total  unpaid  vouchers  when 
books  are  opened. 

With  total  Vouchers  Payable,  from 
Journal  and  Voucher  Register,  Form 
3. 


By  Vouchers  Payable  is  meant  all  bills  paid  monthly  when  individual  ac- 
counts with  vendors  are  not  required  and  which  are  therefore  not  credited  to 
Accounts  Payable  Ledger,  31B. 


'') 


nr-. 


31B— ACCOUNTS  PAYABLE 


Dr: 


Or 


With  total  Accounts  Payable  col- 
umn from  Check  Eegister,  Form  2. 

With  Accounts  Payable  adjust- 
ments, from  Journal  and  Voucher 
Register,  Form  3. 


With  balance  of  Accounts  Payable 
outstanding  when  books  are  opened. 

With  total  Accounts  Payable  col- 
umn from  Journal  and  Voucher  Reg- 
ester,  Form  3. 


The  purpose  of  this  account  is  to  control  the  Accounts  Payable  Ledger,  the 
balance  of  which  shall  be  reconciled  each  month. 

In  cases  where  the  number  of  accounts  payable  would  not  warrant  a  sub- 
sidiary ledger,  individual  accounts  may  be  carried  in  the  General  Ledger  and 
numbered  31-Bl,  31-B2,  etc. 


JIU 


32A— NOTES  AND  ACCEPTANCES  PAYABLE 


Dr: 


Or: 


With  total  paid,  from  Check  Regis- 
ter, Form  2. 

With  renewals  where  entry  is  made 
in  Journal  and  Voucher  Register, 
Form  3. 


With  balance  of  all  Notes  and  Ac- 
ceptances unpaid  when  books  are 
opened. 

With  total  of  Notes  and  Acceptances 
issued,  from  Cash  Receipts  and  Set- 
tlement Journal,  Form  1,  or  Journal 
and  Voucher  Register,  Form  3. 


A  Note  and  Acceptance  Register  shall  be  kept  and  reconciled  monthly  with 
the  balance  of  this  controlling  amount.  All  renewals  shall  be  entered  and  marked 
**  Renewal/^ 


32B— ACCRUED  INTEREST 


Dr: 


Cr: 


With  payments  made,  from  Check 
Register,  Form  2. 

With  interest  accrued  which  is  in- 
cluded in  settlements  entered  in  Jour- 
nal and  Voucher  Register,  Form  3. 


With  balance  of  Accrued  Interest 
payable  when  books  are  opened. 

With  Accrued  Interest  Payable  at 
end  of  each  month,  from  Journal  and 
Voucher  Register,   Form  3. 


320— COLLATERAL  NOTES  PAYABLE 


Dr: 


Cr: 


With  total  paid,  from  Check  Regis- 
ter, Form  2. 


With  balance  of  outstanding  Col- 
lateral Notes  Payable  when  books  are 
openedi 

With  total  notes  issued,  from  Cash 
Receipts  and  Settlement  Journal, 
Form  1. 


When  notes  secured  by  collateral  are  issued  they  shall  be  recorded  in  Cash 
Receipts  and  Settlement  Journal,  Form  1,  charging  Cash  and  crediting  Account 
320. 

When  customer  remits  to  bank  the  bank  should  issue  a  credit  memorandiun 
for  the  remittance  received  by  it  showing  all  deductions  such  as  freight,  dis- 
count, shortages,  etc.,  and  a  debit  memorandum  for  the  note  and  interest.  The 
complete  transaction  shall  then  be  entered  as  follows: 

A  check  shall  be  issued  to  cover  debit  memorandiun,  charging  Collateral 
Notes  Payable  320  and  Interest  Paid,  572. 

The  credit  memorandum  shall  be  entered  in  the  Cash  Receipts  and  Settle- 
ment Journal,  Form  1,  crediting  Account  Receivable  2,  and  charging  Cash, 
Freight,  etc.,  and  Bank  in  deposit  column. 

The  practice  of  entering  such  transactions  as  a  net  amount  is  erroneous. 


^/.(Y/ 


32E— NOTES  AND  ACCEPTANCES  ENDORSED 


Dr: 


Cr: 


With  Notes  and  Acceptances  En- 
dorsed which  are  paid  or  charged  back 
to  customers'  accounts  from  Journal 
and  Voucher  Register,  Form  3,  credit- 
ing Notes  and  Acceptances  Endorsed, 
3E. 


With  all  Notes  and  Acceptances  not 
matured,  endorsed  for  either  discount 
or  accommodation,  when  books  are 
opened. 

With  paper  discounted  or  endorsed 
during  the  month  from  Journal  and 
Voucher  Register,  Form  3,  charging 
Notes  and  Acceptances  Endorsed,  3E. 


Charges  and  credits  to  this  account  are  offset  by  credits  and  charges  to 
account  3E.  The  purpose  of  this  account  is  to  record  contingent  liabilities  on 
account  of  endorsements. 


33— UNREDEEMED  COUPONS 


Dr: 


Cr: 


With  coupons  redeemed  each  month 
from  Coupon  Register  thru  Journal 
and  Voucher  Register,  Form  3. 


With  Unredeemed  Coupons  when 
books  are  opened. 

With  coupons  issued  during  the 
month  from  Coupon  Register  thru 
Journal  and  Voucher  Register,  Form 
3. 


The  purpose  of  this  account  is  to  record  on  the  books,  the  outstanding  li- 
ability for  Coupons  or  other  local  medium  of  exchange. 


/ 


.8 


34— ACCRUED  TAXES 
(Real   Estate   and   Personal   Property) 

Dr:  Or: 

With  taxes  actually  paid,  from  Jour-  With  Acrued  Taxes  when  books  are 

nal  and  Voucher  Register,  Form  3.  opened. 

With  accruals  each  month,  from 
Journal  and  Voucher  Register,  Form 
3. 


40— EESERVE  FOR  BAD  AND  DOUBTFUL  ACCOUNTS  AND  NOTES 


Dr: 


Or; 


With  bad  accounts  and  notes  ac- 
tually charged  off,  from  Journal  and 
Voucher  Register,  Form  3. 


With  balance  of  estimated  reserve 
when  books  are  opened. 

With  estimated  monthly  reserve, 
from  Journal  and  Voucher  Register, 
Form  3. 


The  purpose  of  this  account  is  to  record  the  estimated  reserve  to  provide 
for  possible  losses  in  collection  and  the  amount  estimated  shall  be  based  on  in- 
dividual experience. 


41— RESERVE  FOR  ANTICIPATED  DISCOUNTS 


Dr: 


Cr: 


With  actual  cash  discounts  allowed, 
from  Cash  Receipts  and  Settlement 
Journal,  Form  1. 


With  estimated  discounts  each 
month,  from  Journal  and  Voucher 
Register,  Form  3. 


The  purpose  of  this  account  is  to  record   the    estimated   liability    for    cash 
discount  on  Sales.     This  estimate   shall  be  based  on  individual  experience. 


42— RESERVE  FOR  FREIGHT 
PLAN  1 


Dr: 


Or; 


With  actual  freight,  from  Cash  Re- 
ceipts and  Settlement  Journal,  Form 
1. 

With  the  total  of  underweights  col- 
umn in  Cash  Receipts  and  Settlement 
Journal,  Form  1,  being  the  net  excess 
of  entries  for  freight  in  Sales  Jour- 
nal, Form  4,  over  expense  bills. 


With  the  total  of  freight  outstand- 
ing when  books  are  opened. 

With  the  total  of  actual  freight 
column  in  Sales  Journal,  Form  4. 

With  the  total  of  underweight  col- 
umn in  Cash  Receipts  and  Settlement 
Journal,  Form  1,  being  the  net  excess 
of  expense  bills  over  the  entries  for 
freight  in  Sales  Journal,  Form  4. 


PLAN  2A 


With  the  total  of  estimated  freight, 
from  Cash  Receipts  and  Settlement 
Journal,  Form  1. 


With  the  total  of  estimated  freight 
outstanding  when  books  are  opened. 

With  the  total  of  estimated  freight, 
from  Sales  Journal,  Form  4. 


PLAN  2B 


With  the  total  underweights,  from 
Cash  Receipts  and  Settlement  Journal, 
Form  1. 

With  actual  freight,  from  Cash  Re- 
ceipts and  Settlement  Journal,  Form  1. 


With  the  total  of  estimated  freight 
outstanding  when  books  are  opened. 

With  the  total  of  estimated  freight 
from  Sales  Journal,  Form  4. 


The  purpose  of  account  42  Reserve  for  Freight,  is  to  set  up  the  freight  li- 
ability on  delivered  shipments  included  in  Accounts  Receivable  Ledger. 


iiT 


44— RESERVE  FOR  DEPRECIATION 


Dr: 


Cr 


Witli  cost  of  abandonments  and  re- 
placements, from  Journal  and  Vouch- 
er Register,  Form  3. 


With  balance  of  Reserve  for  Depre- 
ciation when  books  are  opened. 

With  estimated  depreciation  accrued 
each  month,  from  Journal  and  Vouch- 
er Register,  Form  3. 


An  individual  account  should  be  kept  with  detailed  classifications,  such  as 
Buildings,  Equipment,  etc.,  and  numbered  44A,  44B,  etc. 


45— RESERVE  FOR  ANTICIPATED  REPAIRS 


Dr: 


Cr: 


With  actual  cost  of  major  repairs 
as  incurred  and  provided  for  on  the 
credit  side  of  this  account,  from  Jour- 
nal and  Voucher  Register,  Form  3. 


With  an  amount  each  month  esti- 
mated as  sufficient  to  provide  for  ma- 
jor repairs,  from  Journal  and  Voucher 
Register,  Form  3,  charging  accounts 
122  or  232. 


The  purpose  of  this  account  is  to  equalize  over  the  operating  period  the  cost 
of  major  repairs  usually  incurred  during  shut-down  periods.  The  estimated  re- 
serve shall  be  based  on  individual  experience. 

Actual  expenditures  should  be  analyzed  as  incurred,  preferably  on  a  separate 
distribution  sheet,  and  each  department  charged  at  the  final  closing  with  its 
share  of  Actual  repairs,  segregated  as  to  labor  and  material,  and  this  account 
credited. 

After  the  above  transfer  has  been  made  account  45  should  be  debited  and  ac- 
counts 122  and  232  credited  with  the  anticipated  amounts  set  up  for  repairs. 


TJ 


la  aeiuitibaoq 


[1  dHi^ 


46— RESERVE  FOR  SHUT  DOWN  OVERHEAD 


Dr: 


Cr; 


With  actual  cost  of  overhead  ex- 
penses during  shut  down  periods,  from 
Journal  and  Voucher  Register,  Form 
3. 


With  an  amount  each  month  esti- 
mated as  sufficient  to  provide  for  all 
overhead  expenses  during  shut  down 
periods,  from  Journal  and  Voucher 
Register,  Form  3,  charging  account 
123  or  233. 


The  purpose  of  this  account  is  to  equalize  over  the  operating  period  the 
cost  of  all  overhead  expense  during  shut  down  periods.  This  reserve  shall  be 
based  on  individual  experience. 

Actual  charges  should  be  analyzed  as  incurred,  preferably  on  a  separate  dis- 
tribution sheet  and  charged  to  the  respective  operating  accounts  at  the  end  of 
fiscal  period,  and  this  account  credited. 

After  the  above  transfer  has  been  made  account  46  should  be  debited  and  123 
and  233  credited  with  the  amounts  set  up  for  Anticipated  Shut  Down  Overhead. 


49— MORTGAGE  BONDS 


Dr: 


Or: 


With  payments  made  on  bonded  in- 
debtedness. 


With  total  bonded  indebtedness  at 
time  books  are  opened. 

With  subsequent  bond  issues. 


Other  fixed  indebtedness  such  as  mortgages,  etc.,  shall  be  treated  in  a  simi- 
lar manner.  If  desired,  separate  accounts  may  be  kept,  numbered  49A,  49B, 
etc. 


ot.) 


50— CAPITAL   STOCK 

Dr:  Or; 

With  par  value  of  Stock  retired.  With  the  par  value  of  Stock  out- 

standing when  books  are  opened. 

With  par  value  of  Capital  Stock  is- 
sued thereafter. 


51A— SURPLUS 


Dr: 


Or: 


With  dividends  declared. 

With    income    and    excess    profits 
taxes. 

With  balance  of  Profit  and  Loss  ac- 
count annually  if  a  loss. 


With  balance  of  Surplus  when  books 
are  opened. 

With  balance  of  Profit  and  Loss  ac- 
count annually  if  a  profit. 


aaaoxe 

bllR  .    .88XX: 

.gat  Al&mux 


51B— SURPLUS— TIMBER   AND    TIMBER  LANDS  APPRECIATION 


Dr: 


Cr; 


With  corrections  of  amounts  origin- 
ally set  up   as  appreciation. 

With  dividends  declared  out  of  the 
realized  portion  of  this  account.  (Such 
dividends  should  be  clearly  designated 
as  being  paid  out  of  Capital  apprecia- 
tion or  Earnings  prior  tg  March  1, 
1913.) 


With  difference  between  cost  and  ap- 
praised value  as  of  March  1, 1913. 

With  corrections  of  amount  origin- 
ally set  up  as  appreciation. 


52— PROFIT  AND  LOSS 
Dr:  Or; 


This  is  a  clearing  account  for  all  Income  and  Operating  Accounts  affect- 
ing operations  for  the  year,  no  direct  charges  shall  be  made  to  this  account  un- 
til the  end  of  the  fiscal  period.  After  all  income  and  expenditure  accounts  have 
been  closed  into  this  account  the  resulting  balance  shall  be  transferred  to  Sur- 
plus 51A. 


.,.^ 


60A— LOGS   SAWN— SAW  MILL 
Dr:  Or: 

At  end  of  fiscal  period  close  to  Prof-  Monthly  with  market  value  of  logs 

it  and  Loss  Account.  sawn  by  Saw  Mill,  charging  account 

90A. 


The  quantity  used  in  computing  the  monthly  credit  as  above  shall  be  de- 
termined by  scales  of  logs  sawn,  or  by  inventories  if  available.  If  monthly  in- 
ventories have  not  been  used  in  determining  footage  sawn,  then  in  addition  to 
the  regular  monthly  estimated  credit,  an  adjusting  entry  shall  be  made  when- 
ever a  physical  inventory  is  taken  for  the  entire  period.  This  adjustment  shall 
be  shown  on  the  Condensed  Operating  Statement,  Form  31. 

Memorandum  of  the  feet  shall  be  entered  opposite  each  credit. 


UiimK 


,A(;v; 


60B— LOGS   SAWN— SHINGLE   MILL 

Dr:  Or: 

At  end  of  fiscal  period  close  to  Prof-  Monthly  with  market  value  of  logs 

it  and  Loss  Account.  sawn  by  shingle  mill. 


Memorandum  of  the  feet  shall  be  entered  opposite  each  credit. 

The  method  of  computing  the  credit  for  shingle  mill  logs  will  be  determined 
according  to  conditions  at  individual  mills. 


60C— LOGS— TO   OTHERS 

Dr:  Or; 

At  the  end  of  fiscal  period  close  to  With  income  from  logs  sold  to  oth- 

Profit  and  Loss  Account.  ers. 


Memorandum  of  feet  shall  be  entered  opposite  each  credit. 


60D— LOGS  LOST  AND  USED 


Dr: 


Or: 


At  the  end  of  fiscal  period  close  to 
Profit  and  Loss  Account. 


With  the  cost  of  logs  lost  and  used, 
i.  e.  logs  used  in  construction,  repairs, 
etc. 


Memorandum  of  feet  shall  be  entered  opposite  each  credit. 


61— SALES— LUMBER 
Dr:  Or: 

At  end  of  fiscal  period  close  to  Profit  With  f.  o.  b.  amount  of  lumber  sold 

and  Loss  account.  from  Sales  Register,  Form  4. 


Separate  accounts  may  be  kept  such  as  61A  Rail,  61B  Cargo,  61C  Local,  etc. 
Lumber  used  by  the  Company  shall  be  credited  to  61D  at  cost. 


061— ALLOWANCES 

Dr:  Or: 

With    allowances    made    on    Sales  At  end  of  fiscal  period  close  to  Prof- 

f  rom    Cash   Receipts   and    Settlement        it  and  Loss  Account. 
Journal,    Form    1,    or    Journal    and 
Voucher  Register,  Form  3. 


Indicate  kind  of  products  in  reference  column  on  Forms  1  and  3,  classify 
and  post  accordingly.  If  transactions  are  numerous  open  separate  accounts  such 
as  the  following:  061A  Lumber,  061B  Lath,  061C   Box   Shooks,   061D   Shingles. 


62— UNDERWEIGHTS 
PLAN  1 


Dr: 


Cr: 


With  the  total  of  underweights  col- 
umn in  Cash  Receipts  and  Settlement 
Journal,  Form  1,  if  the  amount  of  ex- 
pense bills  exceeds  the  entries  for 
freight  in  Sales  Journal,  Form  4. 


With  total  underweights  column 
from   Sales   Journal,   Form   4. 

With  the  total  of  underweights 
column  in  Cash  Receipts  and  Settle- 
ment Journal,  Form  1,  if  the  amount 
of  entries  for  freight  in  Sales  Jour- 
nal, Form  4,  exceeds  the  amount  of 
expense  bills. 


PLAN  2A 


With  the  total  of  actual  freight  from 
Cash  Receipts  and  Settlement  Jour- 
nal, Form  1. 


With  the  total  estimated-  freight 
from  Cash  Receipts  and  Settlement 
Journal,  Form  1. 


PLAN  2B 


With  the  total  of  underweights  col- 
umn from  Cash  Receipts  and  Settle- 
ment Journal,  Form  1. 


Account  62,   Underweights  may  be  sub-divded  if  desired  into  underweights 
Lumber  62A,  Shingles  62B,  etc. 

For  full  explanation  see  following  page. 


62— UNDERWEIGHTS— (Continued) 

Owing  to  the  fact  that  it  is  impossible  for  all  mills  to  determine  the  actual 
freight  on  cars  at  time  of  shipment  it  is  deemed  advisable  to  explain  the  two 
methods  of  procedure. 

It  is  essential  in  any  case  that  the  estimated  or  price  list  freight  be  recorded 
so  that  the  correct  f.  o.  b.  price  on  sales  and  also  underweights  may  be  deter- 
mined uniformly  for  all  mills. 

PLAN  I. 

This  plan  is  to  be  used  when  the  actual  weight  of  shipment  is  determined 
promptly  either  from  the  mill's  scales  or  the  railroad  scales. 

The  amount  of  freight  determined  by  applying  the  freight  rate  to  actual 
weight  is  entered  in  Actual  Freight  column  in  Sales  Journal,  Form  4.  The  es- 
timated freight  determined  by  applying  freight  rate  to  the  total  estimated  price 
list  weight  of  car  is  entered  in  Estimated  Freight  column  in  Sales  Journal,  Form 
4. 

The  underweights  or  the  difference  between  estimated  freight  and  actual 
freight  determined  as  above  explained  is  entered  in  Underweights  column  62  in 
Sales  Journal,  Form  4. 

At  the  end  of  the  month  the  total  of  Actual  Freight  column  is  credited  to 
Reserve  for  Freight  account  42  (Entry  No.  1  in  illustration)  and  the  total  of 
Underweights  column  62  is  credited  to  Underweights  account  62,  (Entry  No.  2  in 
illustration). 

When  entering  the  underweights  in  Sales  Journal,  Form  4,  a  symbol  will  be 
set  opposite  items  in  Reference  column  to  indicate  underweights  other  than  lum- 
ber such  as  lath,  shingles,  etc.  The  total  of  each  class  of  underweights  will  be 
posted  separately  to  the  credit  of  Underweights  acount  62A,  63B,  etc. 

The  total  of  the  Estimated  Freight  column  in  Sales  Journal,  Form  4,  will  not 
be  carried  to  the  General  Ledger. 

When  expense  bill  is  received  for  credit  the  actual  amount  of  freight  will 
be  entered  in  Actual  Freight  column,  Cash  Receipt  and  Settlement  Journal 
Form  1.  Any  difference  between  the  f^mount  of  expense  bill  and  the  amount 
shown  in  Actual  Freight  column,  in  Sales  Journal,  Form  4,  will  be  entered  in 
Underweights  column  in  Cash  Receipts  and  Settlement  Journal,  Form  1,  over- 
ages in  red  and  shortages  in  black.  These  differences  on  items  other  than  lum- 
ber will  be  symbolized  to  indicate  whether  lath,  shingles,  etc.,  in  Reference  col- 
umn, and  the  net  total  of  each  class  will  be  carried  to  debit  or  credit  of  respective 
Underweights  Account  62  in  the  General  Ledger   (Entry  No.  3  in  illustration) 


;d^m'' 


and  the  offsetting  debit  or  credit  will  be  posted  to  reserve  for   Freight  42,  (En- 
try No.  4  in  illustration). 

The  total  of  Actual  Freight  column  in  Form  1,  will  be  charged  to  Reserve 
for  Freight  42,  (Entry  No.  5  in  illustration). 

PLAN  2 

Where  actual  weights  are  not  obtainable  at  time  of  shipment,  the  matter  of 
estimated  freight  and  underweights  will  be  handled  as  follows: 

The  amount  of  freight  determined  by  applying  the  rate  to  the  price  list 
weight  will  be  entered  in  the  Estimated  Freight  column  of  Sales  Journal,  Form 
4,  and  items  in  this  column  other  than  lumber  will  have  a  symbol  indicating 
whether  lath,  shingles,  etc.  The  total  amount  of  this  column  will  be  credited  to 
Reserve  for  Freight  account  42,  in  the  General  Ledger,  (Entries  6  and  10  in  il- 
lustration.) 

The  settlement  will  be  handled  oy  one  of  the  following  methods  in  the  Casl\ 
Receipts  and  Settlement  Journal,  Form  1. 

A.  Enter  amount  of  estimated  freight  as  shown  in  the  Estimated  Freight 
column.  Form  4,  in  the  Estimated  Freight  column.  Form  1.  Items  in  this  col- 
umn other  than  lumber  will  have  a  symbol  indicating  whether  lath,  shingles, 
etc.  At  the  end  of  the  month  post  the  total  of  this  column  to  the  General  Ledg- 
er, charging  account  42  (Entry  No.  7  in  illustration)  and  crediting  account  62, 
(Entry  No.  8  in  illustration).  The  actual  amount  of  the  freight  shall  be  entered 
in  the  Actual  Freight  column  in  Cash  Receipts  and  Settlement  Journal,  Form  1. 
The  total  of  Actual  Freight  column.  Form  1,  shall  be  posted  at  the  end  of  the 
month  to  the  General  I^edger,  charging  account  62,  (Entry  No.  9  in  illustration). 
The  balance  of  Underweights  account  62  will  then  show  the  underweights  on 
settlements   received. 

B.  Enter  in  the  Underweight  column.  Form  1,  the  difference  between  the, 
estimated  freight  as  shown  in  the  Estimated  Freight  column.  Form  4,  and  the 
actual  freight  as  per  Expense  Bill  (or,  in  other  words,  the  Underweights).  At 
the  end  of  the  month  post  the  total  of  the  Underweights  column.  Form  1,  to  the 
General  Ledger,  charging  account  42,  (Entry  No.  11  in  illustration)  and  credit- 
ing account  62,  (Entry  No.  12  in  illustration).  In  this  case  the  total  of  Actual 
Freight  column.  Form  1,  shall  be  posted  to  the  General  Ledger,  charging  ac- 
count 42,  (Entry  No.  13  in  illustration). 

NOTE — It  is  recommended  that  mills  not  having  scale  weights  include  the 
underweights  earned  in  each  month  in  that  month's  business  by  following  Plan 
1,  with  the  following  modification: 

Enter  in  Actual  Freight  column  of  Sales  Journal,  Form  4,  an  approximate 
Actual  Freight  amount,  in  lieu  of  actual  freight  based  on  scale  weights. 


ILLUSTRATIVE    ENTRIES 


RESERVE  FOR  FREIGHT— 42 


PLAN  1 


Dr: 


-Actual  Freight  from  Cash 
Receipts  and  Settlement 
Journal,  Form  1,  per  Ex- 
pense Bill  $175.01 


Cr: 


1 — Actual    Freight    per    Sales 

Journal,  Form  4 $175.00 

4 — Difference  between  entr}^  for 
freight  per  Sales  Journal 
Form  4,  and  Expense  Bill 
from  Cash  Receipts  and  Set- 
tlement Journal,  Form  1 01 


$175.01 


PLAN  2A 


7 — Estimated    Freight   from 
Cash    Receipts    and    Settle- 
ment  Journal,   Form   1 $200.00 


6 — Estimated  Freight  from . 

Sales  Journal,  Form  4 $200.00 


PLAN  2B 


11 — Underweights  from  Cash 
Receipts  and  Settlement 
Journal,  Form  1 $  24.99 

13 — Actual  Freight  from  Cash 
Receipts  and  Settlement, 
Journal,   Form  1 175.01 


10 — Estimated     Freight     from 

Sales  Journal,  Form  4 $200.00 


$200.00 


{laudii 


ILLUSTRATIVE  ENTRIES 


UNDERWEIGHTS  62 


PLAN  1 


Dr: 


Or: 


3 — Difference  between  entry  for 
freight  per  Sales  Journal, 
Form  4,  and  Expense  Bill 
from  Cash  Receipts  and 
Settlement    Journal,    Form 

1 $ 


2 — Underweights      per      Sales 

Journal,  Form  4 .$  25.00 


.01 


PLAN  2A 


9 — Actual  Freight  from  Cash 
Receipts  and  Settlement 
Journal,  Form  1 $175.01 


8 — Estimated  Freight  from 
Cash  Receipts  and  Settle- 
ment Journal,  Form  1 $200.00 


PLAN  2B 


12 — Underweights  from  Cash 
Receipts  and  Settlement 
Journal,  Form  1 $  24.99 


M(l 


63— LATH 

Dr:  Or: 

At  end  of  fiscal  period  close  to  Profit  With   f .  o.  b.    amount   of   lath   sold, 

and  Loss  Account.  from  Sales  Journal,  Form  4. 


Memorandum  of  pieces  shall  be  entered  opposite  each  credit. 


-fCT 


64— WOOD  AND  SAW  DUST 

Dr:  Chr: 

At  end  of  fiscal  period  close  to  Prof-  With  amount   from   sales   of  wood 

it  and  Loss  Account.  and    saw   dust   from    Sales    Journal, 

Form  4. 


Memorandum    of   units    shall   be    entered  opposite  each  credit. 

When  wood  is  credited  with  the  delivered  price  this  amount  will  be  debited 
with  the  delivery  charge  which  is  a  credit  to  auto  truck  services,  teaming,  or 
outside  parties. 


jiiq  b^iovild 


.«f>tj'i 


65A— BOX  SHOCKS 

Dr:  Or: 

At  end  of  fiscal  period  close  to  Prof-  With  f .  o.  b.  amount  for  sales  of  Box 

it  and  Loss  Account.  Shooks  from  Sales  Journal,  Form  4. 


Memorandum  of  feet  shall  be  entered  opposite  each  credit. 


65B— CUT  UP  FACTORY. 

Dr:  Cr: 

At  the  end  of  fiscal  period  close  to  With  f.o.b.  amount  of  sales  of  Cut 

Profit  and  Loss  Account.  Up    Factory    products,    from     Sales 

Journal,  Form  4. 


Memorandum  of  units  shall  be  entered  opposite  each  credit. 


67— SHINGLES 

Dr:  Or: 

At  end  of  fiscal  period  close  to  Prof-  With    f .  o.  b.    amount    of    Sales    of 

it  and  Loss  Account.  Shingles,  from  Sales  Journal  Form  4. 


Memorandum  of  pieces  shall  be  entered  opposite  each  credit. 


.JiiihiO'Ji 


yd. 


68B— LUMBER    SALES— DIRECT    SHIPMENTS 


Dr: 


Cr 


With  all  expenses  directly  connect- 
ed with  wholesale  business,  such  as 
commissions,  etc. 

At  the  end  of  fiscal  period  with  the 
cost  of  Sales  as  shown  by  Account 
98B. 

Close   balance    to    Profit    and   Loss 
Account. 


With  sales  of  Avholesale  lumber  pur- 
chases for  direct  shipment  from  Sales 
Journal,  Form  4,  or  from  special 
wholesale  register  if  used. 


Memorandum  of  number  of  cars  and  feet  shall  be  entered  opposite  each 
credit. 

The  purpose  of  this  account  is  to  reflect  the  net  profit  on  outside  purchases 
for  direct  shipment.  It  can  be  further  sub-divided  into  68B1  Lumber,  68B2 
Lath,  etc. 

If  desired  the  expenses  may  be  kept  in  separate  accounts  and  transformed 
to  68B  at  end  of  fiscal  period. 


70A— STORE  MEECHANDISE. 


Dr 


Or: 


With    inventory    when    books    are 
opened. 

With  all  purchases  of  merchandise. 

With   freight   and   express   charges 
paid  on  incoming  merchandise. 

With     salaries,     supplies    and     ex- 
penses. 

At  the  end  of  fiscal  period  close  to 
Profit  and  Loss  Account. 


With   the   gross   sales   of   merchan- 
dise. 

With    inventory    when    books    are 
closed. 


In  the  case  of  large  operations  this  account   shall   control  individual   ac- 
counts for  inventories,  purchases,   expenses,  and  revenues. 


70B— CAMP  COMMISSARY 


Dr: 


Cr: 


With    inventory    when    books    are 
opened. 

With  all  purchases. 

With  freight  and  express  charges. 

With     wages,      supplies     and     ex- 
penses. 

At  end  of  fiscal  period  close  to  Prof- 
it and  Loss  Account. 


With  the  Gross  Sales  of  Merchan- 
dise. 

With    Inventory    when    books    are 
closed. 


In  order  to  account  accurately  for  merchandise  charged  to  Commissary  it 
is  recommended  that  each  purchase  be  extended  on  the  purchase  invoice  at  sell- 
ing price  and  the  selling  price  entered  in  the  column  of  Distribution,  Form  8, 
next  to  the  column  containing  the  cost  price.  Also  that  inventories  of  Camp 
Commissary  be  entered  in  two  columns,  one  at  cost  and  the  other  at  selling 
price.  The  sales  plus  the  closing  inventory  at  selling  price  should  be  very  close 
to  purchases  at  selling  price  plus  beginning  inventory  at  selling  price.  Any 
abnormal  shortage  indicates  leakage  and  requires  explanation. 


iTo'  > 


72A— HOTEL 


Dr: 


Cr: 


With    inventory    when    books    are 
opened. 

With  purchases. 

With  freight  and  express  charges. 

With  labor,  supplies,  expenses,  de- 
preciation, etc. 

At  the  end  of  fiscal  period  close  to 
Profit  and  Loss  Account. 


With  the  Gross  Income. 

With    inventory    when    books    are 
closed. 


. '  •. 


72B— MILL  MESS  HOUSE 
Dr:  Cr: 

With    inventory    when    books    are  With  Gross  Income, 

opened.  With    inventory    when    books    are 

With  purchases.  closed. 

With  freight  and  express  charges. 
With  labor,  supplies,  expenses,  de- 
preciation, etc. 

At  the  end  of  fiscal  period  close  to 
Profit  and  Loss  Account. 


72C— CAMP  MESS  HOUSE 


Dr: 


Or 


With  inventory  when  opening  books. 

With  purchases. 

With  freight  and  express. 

With  labor,  supplies  and  expenses. 

At  the  end  of  fiscal  period  close  to 
Profit  and  Loss  Account. 


With  Gross  Income. 

With    inventory    when    books    are 
closed. 


h}W 


Ilia  Ik' 


72D— CAMP  BUNK  HOUSES 
Dr:  Cr: 

With   inventory    of    supplies    when  With  Gross  Income, 

books  are  opened.  ^^^j^    inventory    when    books    are 

With  supplies  and  expenses  used  in  closed. 
the  upkeep  of  Bunk  Houses. 

At  the  end  of  fiscal  period  close  to 
Profit  and  Loss  Account. 


rj 


tlUI; 


iiiui' 


75— BARN 


Dr: 


Cr: 


With    inventory    when    books    are 
opened. 

With  purchases. 

With  freight  and  express. 

With  labor,  supplies,  expenses,  de- 
preciation of  horses,  etc. 

At  the  end  of  fiscal  period  close  to 
Profit  and  Loss  Account. 


With  the  use  of  horses  charged  de- 
partmental operations. 

With  miscellaneous  income. 

With    inventory    when    books    are 
closed. 


The  charges  to  departments,  such  as  yard,    shipping,   wood   delivery,    etc., 
should  be  sufficient  to  cover  depreciation  of  horses,  their  feed,  care,  etc. 


:'jn 


':fc! 


i)i    OSulo    boJldq    iiii)' 


76— POWEE,  LIGHT  AND  WATER 

Dr:  Or: 

With  the  cost  of  Power,  Light  and  With    the    Revenue    derived    from 

Water  furnished  activities  other  than        Light  and  Water  Power  sold, 
operation,  crediting  account  400. 

At  the  end  of  fiscal  period  close  to 
Profit  and  Loss  Account. 


The  total  units,  or  horse  power  developed  should  be  estimated  and  this  ac- 
count charged  with  its  proportion  of  the  total  cost. 


\'.> 


*  *         '  i  •  - 


:»:r -. 


i     19W0q    98  '  )[']' 

iao9  lajoi  orii  io  nofiic  ^iw  bog'iBi 


78— RENTALS 

Dr:  Cr: 

With  labor,  supplies  and  materials  With   all   receipts    from   rental   of 

used  in  the  upkeep  of  rental  buildings.        property. 
With  depreciation. 

With  insurance,  taxes,  and  other  ex- 
penses directly  chargeable  to  rental 
property. 

At  the  end  of  fiscal  period  close  to 
Profit  and  Loss  Account. 


.vp^yi] 


79— FLOATING  EQUIPMENT 


Dr: 


Cr; 


With  labor,  supplies  and  expenses, 
taxes,  insurance,  depreciation,  etc., 
chargeable  to  the  operation  of  tugs, 
lighters,  etc. 

At  the  end  of  fiscal  period  close  to 
Profit  and  Loss  Account. 


With    use    of    tugs,    lighters,    etc., 
charged  to  departmental  operations. 

With  miscellaneous  income. 


If  desired  this  account  may  be  sub-divided  into  79A,  tugs ;  79B,  scows ;  etc. 


4  ill  I 


85— OUTSIDE  SERVICE 
Dr:  Cr: 

With  labor,   material   and   supplies  With    revenue    from    services    per- 

used on  jobs  where  a  charge  is  to  be        formed  for  others, 
made    for    a    service    performed    for 
others. 

At  the  end  of  fiscal  period  close  to 
Profit  and  Loss  Account. 


86— STUMPAGE— PROFIT  AND  LOSS 

Dr:  Or; 

With  any  loss  incurred  on  stump-  With  any  profit  realized  on  stump- 

age  during  the  year.  age  during  the  year. 

At  the  end  of  fiscal  period  close  to 
Profit  and  Loss  Accoimt. 


oJ    Ob-' 


87— SUNDRY  INCOME 

Dr:  Or: 

With  loss  which  can  not  be  charged  With  gains  which  can  not  be  cred- 

to  any  specific  account.  ited  to  any  specific  revenue  account. 


Close  either  credit  or  debit  balance  to  Profit  and  Loss  Account. 

The  details  included  in  this  account  shall  be  fully  itemized  in  the  annual 
Profits  and  Loss  statement. 


'O' 


88— DISCOUNT   TAKEN 

Dr:  Cr: 

At  the  end  of  fiscal  period  close  to  With  cash  discounts  taken. 

Profit  and  Loss  Account.  Discounts  on  bills  for  Construction 

or  Equipment  may  be  deducted  from 
such  bills  and  not  credited  to  this  ac- 
count. 


:*i;l.i 


.JUliODOi, 


89— INTEREST  RECEIVED 
Dr:  Or: 

At   close   of   fiscal   period   close   to  With    interest    received    from    all 

Profit  and  Loss  Account.  sources. 


lO 


.a9'> 


90A— LOGS  SAWN 

Dr:  Cr: 

With  feet  at  market  value  of  logs  At  the  end  of  fiscal  period  close  to 

sawn  by  saw  mill.  Profit   and  Loss  Account. 


Memorandum  of  the  feet  shall  be  entered  opposite  each  debit. 
See  account  60A. 


90B— LOGS   PURCHASED 

Dr:  Or: 

With  cost,  plus  towing  charges  of  At  the  end  of  fiscal  period  close  to 

logs  purchased.  Profit  and  Loss  Account. 

With  log  buyer  ^s  salary,  scaling  fees, 
etc. 


Memorandum  of  the  feet  shall  be  entered  opposite  each  debit. 


gailfioa  /(laliia  a*it*y;tici  ^ui  liji  /* 


.d  lUil  (lubaaioiuaM 


93— LATH 

Dr:  Or: 

With  the  cost  of  lath  purchased.  At  the  end  of  fiscal  period  close  to 

Profit  and  Loss  Account. 


Memorandum  of  pieces  shall  be  entered  opposite  each  debit. 


95A— LUMBER  TO  BOX  FACTORY 
Dr:  Cr: 

With  f .  0.  b.  market  value  of  lum-  At  end  of  fiscal  period  close  to  Prof- 

ber  delivered  to  Box  Factory.  it  and  Loss  Account. 


Memorandum  of  feet  shall  be  entered  opposite  each  debit. 


95B— LUMBEE  TO  CUT-UP  FACTORY 

Dr;  Cr: 

With  f .  0.  b.  market  value  of  liim-  At  end  of  fiscal  period  clo§e  to  Prof- 

ber  delivered  to  Cut-Up  Factory.  it  and  Loss  Account. 


Memorandum  of  units  shall  be  entered  opposite  each  debit. 


tO 


97A— SHINGLE  MILL— LOGS 

Dr:  Or: 

With  market  value  of  logs  sawn  by  At  the  end  of  fiscal  period  close  to 

shingle  mill.  Profit  and  Loss  Account. 


Memorandum  of  feet  shall  be  entered  opposite  each  debit. 


97B— SHINGLES  PURCHASED 

D>:  Cr: 

With   cost   of   shingles   purchased.  At  the  end  of  period  close  to  Profit 

and  Loss  Account. 


Memorandum  of  pieces  shall  be  entered  opposite  each  debit. 


98A— LUMBER    PURCHASED— MILL 
Dr:  Or: 

With  cost  of  lumber  purchases  for  At  the  end  of  fiscal  period  close  to 

stock.  Profit  and  Loss  Account. 


Memorandum  of  feet  shall  be  entered  opposite  each  debit. 


vli  1 


:ia 


>R/irhirj<T  Tfiffrrtf! 


98B— LUMBER    PURCHASED— DIRECT  SHIPMENTS 


Dr: 


Cr: 


With  cost  of  outside  purchases  for 
direct  shipment. 


At  the  end  of  fiscal  period  close  to 
account  68B,  Lumber  Sales — Direct 
Shipments. 


Memorandum  of  feet  shall  be  entered  opposite  each  debit. 

The  purpose  of  this  account  is  to  reflect  the  cost  of  purchases  for  direct 
shipment.  Lumber  purchased  for  reworking  or  yard  stock  shall  not  be  charged 
to  this  account  but  shall  be  charged  to  account  98A. 


gJtsiii 


i)*i8jt5a?i 


A— LABOR 
Dr:  Or: 

With  the  total  of  the  operating  col-  At  the  end  of  fiscal  period  close  to 

umn  '^A"  from  Journal  and  Voucher        Profit  and  Loss  Account. 
Register,  Form  3. 


This  account  shall  control  all  operating  accounts  marked  "A.'' 


•n 


B— SUPPLIES 
Dr:  Cr: 

With  the  total  of  the  operating  Sup-  At  the  end  of  fiscal  period  close  to 

plies  column  ''B"  from  Journal  and        Profit  and  Loss  Account. 
Voucher  Register,  Form  3. 


This  account  shall  control  all  operating  accounts  marked  *'B.'' 


C— EXPENSE 

Dr:  Cr: 

With  the  total  of  the  operating  Ex-  At ,  the  end  of  fiscal  period  close  to 

pense  column  ''C"  from  Journal  and        Profit   and  Loss   Account. 
Voucher  Eegister,  Form  3. 


This  account  shall  control  all  operating  accounts  marked  *'C." 


D-E— EEPAIRS 

Dr:  Or: 

With  the  total  of  the  Repairs  col-  At  the  end  of  fiscal  period  close  to 

umn  *'D-E"  from  Journal  and  Vouch-        Profit  and  Loss  Account, 
er  Register,  Form  3. 


This   account   shall   control   all   accounts  marked  "D-E.** 


400— POWER,  LIGHT  AND  WATER 

By:  Or: 

With  labor  of  engineers,  firemen,  oil-  With  charge  to  departments  based 

ers,   etc.,   operating  power,   light  and        on  best  estimate  obtainable, 
water  plant. 

With  supplies  such  as  oil,  tools,  etc., 
used  in  operation. 

With  expenses  such  as  power  and 
light  purchased,  inspection  fees,  etc. 

With  labor  and  materials  used  in  re- 
pairing, light  and  water  plants,  and 
upkeep  of  fire  hydrants  and  sprinkler 
systems. 


This  account  shall  be  cleared  at  the  end  of  each  month,  as  outlined  in  ex- 
planation of  statements.  If  more  than  one  power  plant  is  in  use  separate  ac- 
counts may  be  kept  under  the  headings  of  Plant  1  and  Plant  2. 


,aoUHi.i 


410— BLACKSMITH  AND  MACHINE  SHOP— (Mill) 

Dr:  Cr: 

With  sundry  supplies  such  as  coal,  With  charges  to  departments  bene- 

iron,  tools,  etc.,  that  can  not  be  located         fitted  on  basis  of  shop  labor  distribu- 
to  specific  operating  accounts.  tion. 

Do  not  charge  labor  to  this  account. 
It  shall  be  charged  direct  to  depart- 
ments benefitted. 

Do  not  charge  iron  and  other  ma- 
terials to  this  account  if  it  can  be 
charged  direct  to  departments  benefit- 
ted. 


This  account  must  be  cleared  each  month. 

Large  stocks  of  any  kind  must  be  carried  in  Inventory  Account  4H  Stock 
of  Supplies. 


420— BLACKSMITH  AND  MACHINE  SHOP— (Camp) 

Dr:  Cr: 

With  sundry  supplies  such  as  coal,  With  charges  to  departments  bene- 

iron,  tools,  etc.,  that  can  not  be  located        fitted  on  basis  of  shop  labor  distribu- 
to  specific  operating  accounts.  tion. 

Do  not  charge  labor  to  this  account. 
It  shall  be  charged  direct  to  depart- 
ment benefitted. 

Do  not  charge  iron  and  other  ma- 
terials to  this  account  if  it  can  be 
charged  direct  to  departments  benefit- 
ted. 


This  account  must  be  cleared  each  month. 

Large  stocks  of  any  kind  must  be  carried  in   Inventory  Account  4H   Stock 
of  Supplies. 


..tlTIiO: 


.boi 


500— SELLING— ADMINISTRATIVE 

Dr:  Cr: 

With  the  total  of  Selling  and  Ad-  At  the  end  of  period  close  to  Profit 

ministrative  column  ''500'^  from  Jour-        and  Loss  Account, 
nal  and  Voucher  Register,  Form  3. 


This  account  shall  control  all  operating  accounts  marked  *'500." 


riCI 


OPERATING  ACCOUNTS. 

The  following  accounts  shall  not  be  kept  in  the  General  Ledger  but  recorded 
on  "Distribution  of  Operating  Accounts,  Form  6.'^ 


100— CONTRACT  LOGaiNG. 


lOOA— Labor. 
lOOB— Supplies. 
lOOC— Expenses. 
lOOD-E— Repairs. 


Charge  labor  assumed  by  company  in  connection  witli 
contract  logging. 

(Charge  to  this  account  supplies  furnished  by  company 
to  contractors. 

Charge  with  amounts  credited  to  contractors  for  logs 
delivered. 

No  charge  unless  company  furnishes  equipment  to 
contractors  in  which  case  repairs  on  such  equipmeni: 
shall  be  charged  to  this  account. 


101— RIGGING  AHEAD. 


lOlA— Labor. 

lOlB— Supplies. 
lOlC — Expenses. 
lOlD-E— Repairs. 


Charge  labor  expended  in  rigging  ahead  and  making- 
landings,  etc. 

Charge  to  this  account  supplies  used. 

No  charge. 

No  charge. 


102— FALLING  AND  BUCKING. 

102A — Labor.  Charge  labor  of  fallers,  buckers,  filers,  snipers,  etc. 

102B — Supplies.  Charge  supplies  used  such  as  axes,  saws,  wedges,  oil, 

etc. 

102C — Expenses.  No  charge. 

102D-E — Repairs.  No  charge. 


.a?3iiq< 


103— YARDING  AND  LOADING. 


103A— Labor. 

103B— SuppUes. 

103C — Expenses. 
103D— Repairs. 

103E— Repairs. 


Charge  labor  of  donkey  engineers,  firemen,  hook  ten- 
ders, chokermen,  chasers,  rigging  men,  loaders,  sig- 
nal boy,  etc. 

Charge  supplies  used  such  as  axes,  saws,  oil.  etc. 
Wood  used  by  donkeys  is  charged  this  account  and 
credited  to  4N. 

No  charge. 

Charge  all  labor  used  in  making  repairs  to  yarders 
and  loaders. 

Charge  material  used  in  making  repairs  to  yarders 
and  loaders. 


'HUoOb 


"iiuh-.l. 


.8oilq<i 


104— WIRE  ROPE. 


104A— Labor. 
104B — Supplies. 
104C — Expenses. 
104D-E— Repairs. 


No  charge. 

Charge  wire  rope  used  in  yarding  and  loading. 

No  charge. 

No  charge. 


109— DEPEECIATION— LOGGING. 


I09A— Labor. 
109B— Supplies. 
1090 — Expenses. 

109D-E— Repairs. 


No  charge. 

No  charge. 

Oharge  each  month,  estimates  depreciation  of  Log- 
ging Equipment. 

No  charge. 


Oredit  Reserve  for  Depreciation  Account  44. 


110— RAILROAD. 


IIOA— Labor. 
HOB— Supplies. 

HOC — Expenses. 
110^— Repairs. 


HOE — Repairs. 


Charge  labor  of  engine  and  train  crews. 

Charge  supplies  used  such  as  oil,  wood,  waste,  tools, 
fittings,  etc. 

Charge  log  freight  and  hauling  paid  others. 

Charge  labor  overhauling  locomotives  and  cars,  and 
labor  of  main  line  section  crews  in  the  upkeep  of 
railroad. 

Charge  all  material  and  supplies  used  in  the  upkeep 
of  locomotives,  cars,  and  main  line  railroad. 

Repairs  to  Rolling  Stock  may  be  kept  separate  from 
upkeep  of  road  by  using  accounts 
110  Dl 
110  D2 
110  El 
110  E2,  respectively. 


TT 


Ill— SPUR  TRACKS. 

(Accounts  111  A  and  lllB  shall  be  used  only  when  costs  of  temporary  spurs 
are  not  pro  rated  in  accordance  with  footnote.) 


lllA — ^Labor. 


IIIB — Supplies. 


IIIC — Expenses. 


IIID-E— Repairs. 


Charge  labor  clearing  right  of  way,  grading,  layino; 
and  removing  track,  etc.  Falling  and  Bucking  pre- 
liminary to  clearing  right  of  way  should  be  charge 
account  102. 

Charge  material  and  supplies  used  in  building  and 
removing  temporary  Spur  Tracks,  such  as  new  ties, 
explosives,  small  tools,  bolts,  spikes,  etc.  (Steel 
rail,  frogs,  switches,  connections,  should  not  be 
charged  to  this  account  but  should  be  capitalized 
under  the  proper  sub-division  of  Account  14  and 
charged  off  thru  the  Reserve  for  Depreciation  Ac- 
count 44.) 

Charge  amounts  transferred  from  Temporary  Spurs 
account  22. 

No  charge. 


In  extensive  operations  the  cost  of  temporary  spur  should  be  charged  to  ac- 
count 22,  and  transferred  to  lllC  monthly  during  the  operating  period  pre- 
ferably on  a  per  M  basis.  An  individual  record  should  be  kept  for  each  Tempor- 
ary Spur  constructed. 


T.iffp.. 


.89ilqqu^ 


.Boanaqxv" 


112— WATER  HAUL. 


112A— Labor. 


112B— Supplies. 
112C — Expenses. 


112D — Repairs. 
112E — Repairs. 


No  charge. 

No  charge. 

Charge  use  of  company  tugs,  (credited  to  79)  and  hire 
of  other  tugs,  excepting  return  of  boom  sticks  cov- 
ered in  115. 

No  charge. 

No  charge. 


■l'>'if- 


Mn  n 


113_0THER  HAUL. 


113A — Labor. 


113B— Supplies. 


113C — Expenses. 


1 13D — Repairs. 


1 13E — Repairs. 


Charge  labor  engaged  in  transportation  of  logs,  other 
than  by  railroad  and  water,  such  as  auto  trucking, 
etc. 

Charge  supplies  used  in  transporting  logs,  other  than 
by  railroad  and  water. 

Charge  auto  trucking  hire  and  per  diem  expenses  for 
transportation  of  logs  other  than  by  railroad  and 
water. 

Charge  labor  of  repairing  auto  trucks,  etc.,  used  in 
transporting  logs. 

Charge  material  and  supplies  for  repairing  auto 
trucks,  etc. 


114_B00MING  AND  RAFTING. 


11 4A — Labor. 
114B — Supplies. 

114C — Expenses. 

114D — Repairs. 

114E — ^Repairs. 


Charge  labor  of  booming  and  rafting  logs. 

Charge  supplies  used  in  the  booming  and  rafting  of 
logs. 

Charge  expenses  incurred,  not  covered  under  othei- 
segregations  of  account  114. 

Charge  labor  repairing  Boom  and  Rafting  Equip- 
ment. 

Charge  material  and  supplies  such  as,  cable,  chain, 
piling,  etc.,  used  in  the  upkeep  of  Booming  and 
Rafting  Equipment. 


PiZ^lT^' 


.'>ifqqn8— a^l 


.8|^<>[ 


.H'Vdiil' 


.aiiuqe' 


115— BOOM   STICK  TOWING. 


115A — ^Labor. 
115B — Supplies. 
115C — Expenses. 


No  charge. 

No  charge. 

Charge  use  of  Company  tugs,   (credited  to  79)   and 
hire  of  other  tugs  for  return  of  Boom  Sticks. 


1 15D-E — Repairs. 


No  charge. 


119— DEPRECIATION— TRANSPORTATION. 


119A— Labor. 


No  charge. 


119B— Supplies. 


No  charge. 


119C — Expenses. 


Charge  each  month  estimated  depreciation  of  Rail- 
road Transportation  Equipment. 


119D-E— Repairs. 


No  charge. 


Credit  Reserve  for  Depreciation  Account  44. 


120— SALARIES  AND  WAGES. 


120A— Labor. 


Charge  the  salaries  of  logging  superintendent,  pro- 
portion of  salary  general  superintendent,  time- 
keepers and  clerks  in  logging  operations,  watchmen, 
etc.,  that  can  not  be  directly  charged  to  accounts  100 
to  115,  inclusive. 


120B— Supplies. 


No  charge. 


120C— Expenses. 


Charge  Expense  Accounts  of  employes  included  above. 


120D-E— Repairs. 


No  charge. 


121--SUNDRY  EXPENSES. 


121A— Labor. 


No  charge. 


121B— Supplies. 
121C — Expenses. 


No  charge. 

Charge  such  expenses  as  telephone,  current  for  camp 
lighting,  etc.,  that  can  not  be  classified. 


121D-E— Repairs. 


No  charge. 


This  account  must  not  be  burdened  with  items   that  can  be   classified  into 
other   accounts. 


122— ANTICIPATED  REPAIRS. 


122A— Labor. 


No  charge. 


122B— Supplies. 


No  charge. 


122C — Expenses. 


Charge  during  operating  months  an  estimated  amount 
sufficient  to  provide  for  major  repairs  usually  in- 
curred during  shut  down  periods.  These  expenses 
when  actually  incurred  should  be  charged  to  Re- 
serve for  Anticipated  Repairs  Account  45. 


122D-E— Repairs. 


No  charge. 


.j^^rlcfCfrj- 


iiU: 


123— SHUT  DOWN  OVERHEAD. 


123A— Labor. 


No  charge. 


123B— Supplies. 


No  charge. 


123C — Expenses. 


Charge  during  operating  months  an  estimated  amount 
sufficient  to  provide  for  overhead  expenses  during 
shut  down  periods.  These  expenses  when  actually- 
incurred  should  be  charged  to  Reserve  for  Shut 
Down  Overhead  account  46. 


123D-E— Repairs. 


No  charge. 


128A— Labor. 
128B— SuppHes. 
128C— Expenses. 
128D-E— Repairs. 


128— LOGS  LOST. 

No  Charge. 

No  Charge. 

Charge  at  Cost  logs  lost,  and  credit  SOD. 

No  Charge. 


The  purpose  of  this  account  is  to  record  and  show  in  operating  costs,   thf 
value  of  logs  lost. 


.todjaJ 
.axij: 


.Jaoi 


130'-STUMPAGE. 

130A — Labor.  No  Charge. 

130B— Supplies.  No  Charge. 

130C — Expenses.  Charge  the  value  of  Stumpage  logged. 

130D-E — Repairs.  No  Charge. 


.aout)' 


200— POND  OR  LOG  YARD. 


200A— Labor. 


200B— Supplies. 


200C— Expenses. 


200D— Repairs. 
200E— Repairs. 


Charge  labor  operating  Pond  or  Log  Yard,  including 
putting  logs  on  log  haul. 

Charge  materials  and  supplies  used  in  the  operation 
of  Pond. 

Charge  expenses  directly  located  to  Pond  not  covered 
by  the  other  segregations  of  this  Department,  such 
as  shifting  logs  with  tug,  etc. 

Charge  labor  repairing  Pond  or  Log  Yard,  such  as 
dredging,  cleaning  out,  driving  piling,  etc. 

Charge  material  and  supplies  necessary  to  make  re- 
pairs. 


.811  r 


201— SAW  MILL. 


201A— Labor. 


201B— Supplies. 


201C — Expenses. 


201D— Repairs. 


201E— Repairs. 


Charge  operating  labor  in  Saw  Mill  from  the  dock  to 
the  sorting  chain,  including  deckman,  sawyer,  dog- 
gers, setter,  off  bearer,  trimmer,  edgermen,  resaw- 
yer,  oilers,  rolls  men,  mill  tallymen,  foreman,  etc. 

Charge  all  supplies  used  such  as  saws,  belts,  tools,  oil, 
grease,  etc. 

Charge  expenses  directly  located  to  sawing  but  not 
classified  under  other  segregations  of  the  depart- 
ment, such  as  Light,  Power,  etc. 

Charge  labor  engaged  in  overhauling  and  repairing 
machinery,  building,  foundations,  docks  adjacent 
thereto,  etc.,  such  as  millwrights,  etc. 

Charge  all  materials  and  supplies  used  in  overhauling 
and  repair  work. 


Expense  of  rehandling  lumber  for  remanufacturing   should   be   charged   this 
account.  i       \  ' 


.ffrtii 


Lijniiii- 


JIIiJO^&: 


202— SORTING  TABLE. 


202A— Labor. 


Charge  labor  on  table,  including  marker,  table  rolls 
and  sorting  crew. 


202B— Supplies. 
202C— Expenses. 
202D-E— Repairs. 


No  Charge. 
No  Charge. 
No  Charge. 


.tocfj; 


.89ilqqif8 — HS: 


.a'>8r 


203— DRY  KILN. 


203A— Labor. 

203B— Supplies. 
203C— Expenses. 


203D— Repairs. 


Charge  labor  loading,  operating  and  unloading  Dry 
Kiln. 

Charge  supplies  used  in  the  operating  of  Kilns. 

Charge  expenses  directly  located  to  Dry  Kiln  not 
classified  under  other  segregations  of  this  depart- 
ment, such  as  Light,  Power,  etc. 

Charge  labor  repairing  Dry  Kilns,  stackers  and  un- 
stackers,  docks  and  foundations  adjacent  thereto, 
etc. 


203E— Repairs. 


Charge  materials  and  supplies  used  in  making  repairs. 


204— TIMBER  DOCK 


204A— Labor. 


204B— Supplies. 
204C — Expenses. 
204D-E— Repairs. 


Charge  labor  handling  timbers  from  mill  to  loading 
track,  except  sizing.  Loading  on  cars  is  chargeable 
to  shipping. 

No  Charge. 

No  Charge. 

No  Charge. 


•lodju; 


205— TRANSPORTATION. 


205A— Labor. 

205B— Supplies. 
2050 — Expenses. 

205D— Repairs. 
205E — Repairs. 


Charge  labor  of  teamsters,  jitney  and  tractor  drivers, 
traveling  crane  men,  etc.,  handling  liunber. 

Charge  supplies  used  by  the  above. 

Charge   expenses   directly   located  to   transportation 
such  as  power,  horse  hire,  etc. 

Charge  labor  repairing  transportation  equipment. 

Charge  material  and  supplies  used  in  repairing  trans- 
portation equipment. 


t  brrr.  .lod&s 

iioiJiiJ'K'qsxiJ^';  .g^ciiiuqz. 

.tfionn:             ''diji^DqHriB-ij  i^nhifiqfn  locfal  fj^iiiii)  .8iiijqo/ 

t 

itqqua  bn.                          ff->  .B'lxjsqs' 


206— PILING. 


206A— Labor. 


Charge  labor  for  piling,  sticking  and  stacking  lumber 
in  yard  or  on  dock.  It  includes  putting  on  covers, 
building  pile  bottoms,  etc.  (Taking  down  from  pile 
is  chargeable  to  shipping.) 


206B— Supplies. 


No  Charge. 


206C— Expenses. 
206D-E— Repairs. 


No  Charge. 
No  Charge. 


.TodijJ 


207— ROUGH  DRY  SHED. 

207A — Labor.  Charge  labor  employed  in  rough  dry  shed. 

207B— Supplies.  No  charge. 

207C— Expenses.  No  charge. 

207D-E— Repairs.  No  charge. 


208— DRY  SORTING. 

208A — Labor.  Charge  labor  on  dry  sorting  chain  and  marker. 

208B — Supplies.  No  charge. 

208C — Expenses.  No  charge. 

208D-E — ^Repairs.  No  charge. 


.a'iiuq 


209— FINISHED   SHED. 


209A— Labor. 

209B— Supplies. 
209C— Expenses. 
209D-E— Eepairs. 


Charge  labor  employed  in  finished  dry  shed.     (Shed 
Stacking.) 

No  charge. 

No  charge. 

No  charge. 


.aiiijq^^ 


210— GENERAL. 


210A— Labor. 


210B— Supplies. 
210C— Expenses. 
210D— Repairs. 


210E— Repairs. 


Charge  yard  labor  not  definitely  located  to  other  yard 
cost  accounts,  such  as  truck  rustlers,  cleaners, 
sweepers,  etc. 

Charge  expenses  not  definitely  located  to  other  yard 
cost  accounts. 

Charge  yard  supplies  not  definitely  located  to  other 
yard  cost  accounts. 

Charge  labor  making  repairs  benefitting  the  yard 
generally  and  which  can  not  be  definitely  located  to 
other  yard  costs.  Such  items  will  be  repairs  to 
trams,  docks,  tracks,  sheds,  etc. 

Charge  material  making  repairs  as  explained  above 
in  D.  The  repairs  "D-E"  may  be  segregated  and 
shown  in  separate  accounts  as: 

210  Dl  trams. 

210  D2  cargo  dock. 

210  D3  tracks. 

etc. 


220— PLANING  MILL. 


220A— Labor. 


220B— Supplies. 

220C— Expenses. 
220D— Repairs. 
220E— Repairs. 


Charge  labor  of  planing  mill  crew  such  as  feeders,  off 
bearers,  trimmers,  graders,  oilers,  cleanup,  fore- 
men, etc. 

Charge  supplies  used  such  as  oil,  belting,  planing 
knives,  saws,  twine,  etc. 

Charge  expenses  such  as  light,  power,  etc. 

Charge  labor  repairing  building,  machinery,  tools,  etc. 

Charge  materials  and  supplies  used  in  repairs. 


.lodi^Li 


'finiEt; 


gifidO 


.a-tUqfjII 


.K*IIJ>^ 


221— SIZER. 


221A— Labor. 

221B— Supplies. 

221 C — Expenses. 
221D— Repairs. 
221E— Repairs. 


Charge  labor  sizing  lumber. 

No  charge. 

No  charge. 
No  charge. 
No  charge. 


•S'llJiW: 


229— DEPRECIATION. 


229A— Labor. 
229B— Supplies. 
229C— Expenses. 

229D-E— Repairs. 


No  charge. 

No  charge. 

Charge  each  month  estimated  depreciation  of  manu- 
facturing investment. 

No  charge. 


Credit  Reserve  for  Depreciation  Account  44. 


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230— SALARIES  AND  WAGES. 


230A— Labor. 


Charge  proportion  of  salaries  of  general  superintend- 
ent, manufacturing  superintendent,  clerks,  time- 
keepers, watchmen  and  others  that  can  not  be  di- 
rectly charged  to  accounts  200  to  221. 


230B— Supplies. 
230C — Expenses. 


No  charge. 
No  charge. 


230D-E— Repairs. 


Charge  expense  accounts  of  employes  included  above. 


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231— SUNDRY  EXPENSES. 


231A— Labor. 


231B— Supplies. 
231 C — Expenses. 


231D-E— Repairs. 


No  charge. 

No  charge. 

Charge  miscellaneous  expenses  such  as  fees,  licenses, 
etc.,  not  directly  located  to  any  of  the  other  manv- 
facturing  accounts. 

No  charge. 


This  account  must  not  be  burdened  with  items  that  can  be  charged  direct  to 
other  accounts. 


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232— ANTICIPATED   REPAIRS. 

232A — Labor.  No  charge. 

232B — Supplies.  No  charge. 

232C — Expenses.  Charge  during  operating  months  with  an  estimated 

amount  sufficient  to  provide  for  major  repairs 
usually  incurred  during  shut  down  periods.  These 
expenses  when  actually  incurred  should  be  charged 
to  Reserve  for  Anticipated  Repairs,  Account  45. 

232D-E — Repairs.  No  charge. 


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233— SHUT  DOWN  OVERHEAD. 


233A— Labor. 


233B— Supplies. 
233C— Expenses. 


No  charge. 

No  charge. 

Charge  during  operating  months  with  an  estimated 
amount  sufficient  to  provide  for  all  overhead  ex- 
pense during  shut  down  periods.     These  expenses 
when  actually  incurred  should  be  charged  to  Re- 
.  serve  for  Shut  Down  Overhead,  Account  46. 


233D-E— Repairs. 


No  charge. 


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300— LATH. 


300A— Labor. 


300B— Supplies 
300C — Expenses. 
300D— Repairs. 


Charge  labor  of  lath  men. 

Charge  supplies  used  in  making  and  bundling  lath. 

Charge  expenses  such  as  power,  etc. 

Charge  labor  repairing  Lath  Mill  building  and  equip- 
ment. 


300E— Eepairs. 


Charge  material  and  supplies  used  for  repairs. 


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310— WOOD. 


310A— Labor. 


310B— Supplier. 

310C — Expenses. 
310D-E— Repairs. 


Charge  labor  of  men  engaged  in  pulling  wood  out  of 
conveyor  and  loading,  also  staking  and  bracing  cars 
when  necessary. 

Charge  tools  used  by  wood  laborers,  also  stakes  and 
bracing  when  same  can  not  be  charged  to  customer. 

Charge  expenses  not  classified  as  labor  or  supplies 
such  as  demurrage,  etc. 

No  charge. 


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320— BOX  FACTORY. 

320A — Labor.  Charge  all  labor  employed  in  making  box  shooks,  from 

tbe  time  lumber  is  delivered  from  j^ard  until  loaded 
in  cars  as  shooks.  Taking  down  and  moving  from 
yard  to  Box  Factory  is  chargeable  to  lumber  ship- 
ping- 

320B — Supplies.  Charge  all  supplies  such  as  oil,  belting,  saws,  tools, 

fasteners,  wire,  etc. 

320C — Expenses.  Charge  power,  depreciation,  etc. 

320D — Repairs.  Charge  labor  repairing  factory  buildings  and  equip- 

ment. 

320E — Repairs.  Charge  all  materials  and  supplies  used  in  repairs. 


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330— CUT  UP  FACTORY. 


330A— Labor. 


330B— Supplies. 

330C— Expenses. 
330D— Repairs. 

330E— Repairs. 


Charge  all  labor  used  in  Cut  Up  Factory  from  the 
time  lumber  is  delivered  from  stock  until  it  is 
finished  and  loaded. 

Charge  all  supplies  such  as  oil,  belting,  saws,  tools, 
wire,  glue,  etc. 

Charge  power,  depreciation,  etc. 

Charge  labor  repairing  factory  buildings  and  equip- 
ment. 

Charge  all  materials  and  supplies  used  for  repairs. 


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340— SHINGLE  MILL. 


340A— Labor. 


340B— Supplies. 

340C — Expenses. 
340D— Repairs. 


Charge  all  labor  employed  in  Shingle  Mill  from  mill 
pond  or  the  correct  proportion  of  saw  mill  cost  un- 
til shingles  are  loaded. 

Charge  all  supplies  such  as  oil,  belting,  saws,  tools, 
wire,  etc. 

Charge  power,  depreciation,  etc. 

Charge   labor   repairing   shingle   mill   buildings   and 
equipment. 


340E— Repairs. 


Charge  all  materials  and  supplies  used  for  repairs. 


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390— SHIPPING. 


390A— Labor. 


390B— Supplies. 


390C— Expenses. 
390D-E— Repairs. 


Charge  all  labor  of  unloading  lumber  from  pile  and 
loading  in  cars  or  moving  to  Box  Factory  or  Cut 
Up  Factory.  Cargo  shipping  shall  be  the  operation 
of  loading  from  dock. 

Charge  supplies  such  as  stakes,  bracing,  nails,  etc., 
furnished  shipping  crew  when  not  charged  to  cus- 
tomer. 

Charge  expenses  such  as  demurrage,  inspection,  fees, 
etc. 

No  charge. 


.100. 


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SELLING. 

510— AD  VERTISING. 

Charge  expenses  incurred  by  the  business  for  Advertising.  This  account 
should  be  distributed  on  an  equitable  basis  to  lumber,  shingles,  etc. 

511— SALESMEN'S  AND  SELLING  SALARIES. 

Charge  salaries  of  field  salesmen  and  office  force  such  as  sales  manager, 
clerks,  stenographers,  etc.,  chargeable  exclusively  to  selling. 

512— SALESMEN'S  EXPENSES. 

Charge  expenses  located  directly  to  selling,  such  as  traveling  expenses,  tele- 
phone, telegraph,  postage,  etc. 

513— COMMISSIONS. 

Charge  commissions,  except  on  wholesale  business  which  is  chargeable  to  ac- 
count 68B. 

Entries  are  obtained  from  the  following  books: 

Charge  with  total  of  Commissions  column  and  Commissions  in  General 
Ledger  column  from  Sales  Journal,  Form  4. 

Charge  with  debit  adjustments  of  Commission  items  (513)  from  the  General 
Ledger  column  on  the  debit  side  of  Cash  Receipts  and  Settlement  Journal, 
Form  1.  ■ 

Credit  with  credit  adjustments  of  Commission  items  (513)  from  the  General 
Ledger  column  on  the  credit  side  of  Cash  Receipts  and  Settlement  Journal, 
Form  1. 

Post  debit  and  credit  items  from  Journal  and  Voucher  Register,  Form  3. 

Kind  of  products  shall  be  indicated  as 

513A  Lumber. 
513B  Shingles, 
etc. 

514— BRANCH  EXPENSES. 
Charge  expenses  of  field  sales  offices. 


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ADMINISTRATIVE. 

550— EXECUTIVE  SALARIES. 

Charge  salaries  of  officers  such  as  President,  Vice  President,  General  Mana- 
ger, Secretary  and  Treasurer.  These  salaries  should  be  apportioned  each  month 
on  the  basis  of  established  percentages  to  departments  benefitted,  such  as  log- 
ging, manufacturing,  selling,  shingles,  etc.,  determined  by  each  operation  accord- 
ing to  the  best  judgment  of  the  management.  See  explanation  of  statements 
for  procedure  in  making  distribution. 

551— OFFICE  SALARIES. 

Charge  salaries  of  general  bookkeepers,  clerks,  stenographers,  etc.  Appor- 
tion this  expense  to  logging,  manufacturing,  selling,  etc.,  the  same  as  outlined 
for  550  Executive  Salaries. 

552— STATIONERY,    PRINTING  AND  OFFICE   SUPPLIES. 

Charge  stationery,  printing,  and  office  supply  expenses.  Distribute  to  log- 
ging, manufacturing,  selling,  etc.,  on  the  basis  of  established  percentages. 

553— RENT  AND  LIGHT. 

Charge  expenses  as  enumerated  in  heading,  and  distribute  to  logging,  manu- 
facturing, selling,  etc.,  on  the  basis  of  established  percentages. 

55^^-POSTAGE,  TELEPHONE  AND  TELEGRAPH. 

Charge  all  general  postage,  telephone  and  telegraph  expenses  to  this  account 
and  distribute  to  the  important  divisions  of  the  business  on  established  percent- 
age basis. 

556— PROFESSIONAL  SERVICES. 

Charge  legal,  auditing,  engineering  and  similar  professional  fees  not  charge- 
able specifically  to  any  other  accounts.  Distribute  to  the  important  divisions  of 
the  business  on  an  established  percentage  basis. 


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557— SUNDRY  EXPENSES. 

Charge  to  this  account  miscellaneous  administrative  expenses  such  as  dona- 
tions, dues,  etc.,  that  can  not  be  located  to  other  sub-divisions  of  Administrative 
Expenses.     Distribute  on  an  established  percentage  basis. 

558— FIRE  AND  BOILER  INSURANCE. 

Charge  all  fire  and  boiler  insurance  to  this  account.  Distribute  to  logging, 
manufacturing,  etc.,  on  basis  of  actual  insurance  carried  for  the  respective  de- 
partments. 

559— LIABILITY  INSURANCE. 

Charge  industrial  insurance  assessments,  first  aid  contiibutions,  and  ypecial 
expenses  and  payments  to  injured.  Credit  payroll  deductions.  Distribute  on  the 
basis  of  payroll. 

561— TAXES. 

Charge  personal  and  real  taxes  on  buildings,  equipment  and  stocks  and  capi- 
tal stock  taxes,  state  and  city  licenses,  etc.,  to  this  account  and  distribute  as  be- 
tween logging,  manufacturing,  etc.,  according  to  investments.  Taxes  on  timber 
holdings  charge  to  Timber  Taxes  and  Expenses  account  574.  Charge  Income 
and  Excess  Profits  Taxes  direct  to  Surplus  account  51  A. 

562— DEPRECIATION -FURNITURE  AND  FIXTURES. 
Charge  each  month  estimated  depreciation  on  office  furniture  and  fixtures. 


570— BAD  AND  DOUBTFUL  DEBTS. 

Charge  monthly  a  percentage  of  the  sales  based  on  individual  experience 
which  will  be  sufficient  to  provide  for  possible  losses  in  collection,  crediting  ac- 
count No.  40. 

571— DISCOUNT  ALLOWED. 

Charge  monthly  a  percentage  of  sales  based  on  individual  experience  which 
will  be  sufficient  to  provide  for  discounts  taken  by  customers,  crediting  account 
41. 

572— INTEREST  PAID. 

Charge  all  interest  paid  to  others,  excepting  on  timber  indebtedness  which 
shall  be  charged  to  account  574. 

573— SPECIAL  LOSSES. 

Charge  losses  such  as  fire,  floods,  strikes,  etc. 

574r— TIMBER,  INTEREST,  TAXES  AND  EXPENSES. 

Charge  interest  on  timber  indebtedness,  taxes  on  timber,  cruising,  fire  pro- 
tection, etc. 


CASH  RECEIPTS  &  SETTLEMENT  JOURNAL. 

(Form  1) 

This  form  (especially  devised)  shall  be  used  for  recording  remittances  re- 
ceived and  details  of  sales  settlements. 

The  following  columns  are  provided  for  on  this  form: 

CAR: 

Initials — Number — Expense  Bill  No. — Claim  No.  (Freight  Claim).  Self  ex- 
planatory. 

REFERENCE: 

This  column  shall  be  used  to  designate  opposite  each  item  whether  the  set- 
tlement affects  lumber  sales,  lath  sales,  etc. 

ESTIIMATED  FREIGHT: 

UNDERWEIGHTS: 

See  detailed  explanation  of  Underweights,  account  62.  If  plan  1  or  2B  is 
followed  erase  "Estimated  Freight."  If  plan  2A  is  followed  erase  ''Under- 
weights."    This  codumn  is  not  to  be  used  in  balancing  the  page. 

ACTUAL  FREIGHT: 

See  detailed  explanation  of  Underweights  account  62. 

RESERVE  FOR  DISCOUNTS  41: 

Enter  discounts  allowed  to  customers. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  charged  to  Reserve 
for  Anticipated  Discounts  41. 


COMMISSIONS  PAYABLE  30C: 

Enter  deductions  allowed  customers!  for  commissions.  Each  amount  so  de- 
ducted shall  be  reconciled  with  the  anticipated  credit  for  commissions  shown  in 
Commissions  Payable  column  30C  in  Sales  Journal,  Form  4,  and  differences  ad- 
justed as  follows: 

If  the  commission  allowed  exceeds  the  anticipated  amount  charge  the  dif- 
ference to  Commissions  513  in  the  General  Ledger  column  on  the  debit  side  and 
credit  it  to  Commissions  Payable  30C  in  the  General  Ledger  column  on  the 
credit  side. 

If  the  commission  allowed  is  less  than  anticipated  amount  credit  the  differ- 
ence to  Commissions  513  in  the  General  Ledger  column  on  the  credit  side  and 
charge  it  to  Commissions  Payable  30C  in  the  General  Ledger  coliunn  on  the 
debit  side. 

ALLOWANCES  061 : 

Enter  allowances  to  customers  for  grade  shortages,  errors  in  price,  etc. 

At  the  end  of  each  month  the  total  of  this  account  shall  be  analyzed  as  to  al- 
lowances on  lumber,  shingles,  etc.,  and  segregated  totals  shall  be  debited  to  ac- 
coun  061A,  061B,  etc. 

NOTES  AND  ACCEPTANCES  RECEIVABLE  3A: 

Enter  face  value  of  notes  or  acceptances  from  customers. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  charged  to  Notes 
and  Acceptances  Receivable  3A. 

GENERAL  LEDGER: 

Enter  charges  to  accounts  having  no  special  column  and  note  account  num- 
ber in  Reference  column. 

Amounts  entered  in  this  column  shall  be  posted  to  accounts  in  General  Ledger. 

All  entries  in  General  Ledger  column  which  are  posted  to  controlling  ac- 
counts A,  B,  C,  D,  E  and  500  must  also  be  posted  to  the  respective  distribution 
sheet,  Form  6. 


DAY: 

Self  explanatory. 

CASH  IB: 

Enter  the  net  amounts  of  remittances. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  charged  to  the 
Cash  IB. 

DEPOSITS: 

Enter  individual  deposits. 

If  there  are  two  or  more  bank  accounts,  deposits  in  respective  banks  shall  be 
designated  in  the  reference  column  as  IC,  ID,  etc.  All  cash  received  should  be 
deposited. 

At  the  end  of  each  month  the  total  deposits  in  each  bank  shall  be  charged  to 
accounts  IC,  ID,  etc.,  and  credited  to  Cash  Account  IB. 

ACCOUNTS  RECEIVABLE  2: 

Enter  the  total  credit  of  each  settlement  which  will  include  cash,  deductions 
for  freight,  discounts,  commissions  and  allowances,  and  notes  and  acceptances. 

One  or  more  columns  may  be  used  depending  on  the  number  of  controlling 
accounts  maintained. 

GENERAL  LEDGER: 

Enter  credits  to  accounts  having  no  special  column  and  note  account  number 
in  Reference  column. 

Amounts  entered  in  this  column  shall  be  posted  to  accounts  in  General  Ledger. 

All  entries  in  General  Ledger  column  which  are  posted  to  controlling  ac- 
counts A,  B,  C,  D,  E  and  500  must  also  be  posted  in  red  to  the  respective  dis- 
tribution sheets.  Form  6. 


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NOTES  AND  ACCEPTANCES  RECEIVABLE  3A: 

Enter  cash  received  on  Notes  and  Acceptances  Receivable. 
At  the  end  of  each  month  the  total  of  this  column  shall  be  posted  to  Notes 
and  Acceptances  Receivable  3A. 

CASH  SALES: 

Enter  receipts  from  cash  sales  of  mill  products. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  posted  to   Cash 
Sales  in  Accounts  Receivable  Ledger  and  to  Accounts  Receivable  2. 
It  is  important  that  the  Cash  Sales  nccount  be  reconciled  monthly. 

BLANK  COLUMNS: 

These  columns  shall  be  used  when  necessary  to  facilitate  posting  to  accounts 
having  no  special  column  but  numerous  transactions. 


CHECK  EEGISTER. 

(Form  2) 

This  form  (especially  ruled)  shall  be  used  for  recording  checks  issued. 

Use  separate  sheets  for  each  bank. 

The  following  columns  are  provided  for  on  this  form: 

DAY: 

Self  explanatory. 

FAVOR  OF: 

Name  and  Particulars. 

CHECK  NO. : 
BANK: 

Enter  amount  of  each  check  drawn. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  credited  to  Bank 
Accounts  IC,  ID,  etc. 

DISCOUNTS  TAKEN  88: 

Enter  amount  of  discount  taken  on  purchases. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  credited  to  Dis- 
counts Taken  88. 

VOUCHER  NO. : 

Enter  numbers  of  vouchers  paid  by  each  check. 


.Oj'.) 


VOUCHERS  PAYABLE  31A: 

Enter  gross  amounts  of  vouchers  paid  by  each  check. 

At  the  end  of  each  month  the  total  of  the  Vouchers  Payable  column  shall  be 
charged  to  Vouchers  Payable  31A. 

The  check  number  and  date  shall  be  entered  in  Journal  and  Voucher  Regis- 
ter, Form  3,  opposite  the  vouchers  paid  by  each  check. 

ACCOUNTS  PAYABLE  31B: 

Enter  gross  amounts  paid  on  accounts   carried   in   the   Accounts   Payable 
Ledger. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  charged  to  Ac- 
counts Payable  31B. 

The  individual  items  shall  be  posted  to  individual  accounts  in  the  Accounts 
Payable  Ledger. 

GENERAL  LEDGER: 

Enter  all  charges  to  accounts  having  no  special  column  and  note  account 
number  in  Reference  column 

Amounts  entered  in  this  column  shall  be  posted  to  accounts  in  General  Ledger. 

All  entries  in  General  Ledger  column  which  are  posted  to  controlling  ac- 
counts A,  B,  C,  D,  E  and  500  must  also  be  posted  to  the  respective  distribution 
sheets,  Form  6. 

MEMORANDUM    (DEPOSITS— BALANCE) : 

Enter  in  first  column  each  deposit  made  from  Cash  Receipts  and  Settle- 
ment Journal,  Form  1. 

The  difference  between  total  of  deposits  and  total  of  checks  drawn  shall  be 
entered  in  the  Balance  column  (overdraft  in  red),  daily  or  oftener  if  required. 

At  the  beginning  of  each  month  the  balance  on  deposit  shall  be  entered  on 
the  forward  line  in  the  Deposits  column. 


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BLANK  COLUMNS: 

These  columns  shall  be  used  when  necessary  to  facilitate  postings  to  accounts 
having  no  special  column  but  numerous  transactions. 


JOURNAL  AND   VOUCHER   REGISTER. 

(Form  3) 

This  form  (especially  devised)  shall  be  used  as  a  combination  purchase  reg- 
ister and  general  ledger. 

The  following  columns  are  provided  on  this  form: 

DATE : 

Self  explanatory. 

PARTICULARS : 

Enter  name  of  creditors,  or  when  a  Journal  entry  the  names  of  accounts  af- 
fected. The  invoice  dates  may  be  shown  and  also  a  brief  description  indicating 
the  nature  of  transaction. 

PAID: 

Date — Check  No. 

Enter  the  date  and  check  number  of  checks  drawn  in  payment  of  vouchers. 

VOUCHER  NO.— Purchase  Journal: 

Enter  numbers  given  to  the  purchas  j  vouchers  and  journal  vouchers,  in  their 
respective  numerical  sequence. 

VOUCHERS   PAYABLE   31A: 

Enter  amount  of  vouchers  which  may  be  entered  individuallv  or  collectively 
by  vendors. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  credited  to  Vouch- 
ers Payable  31  A,  and  the  total  of  the  unpaid  vouchers  which  is  the  balance  of 
Vouchers  Payable  31  A,  must  agree  with  the  total  of  amounts  opposite  which  no 
reference  of  payments  appear. 

Items  entered  in  the  Vouchers  Payable  column  shall  be  paid  promptly  each 
month,  i.e.,  on  or  before  the  10th  of  the  month  following. 

Where  it  is  found  that  vouchers  for  some  reason  can  not  be  paid  promptly, 
transfer  should  be  made  by  journal  entry  from  Vouchers  Payable  to  Accounts 
Payable. 


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ACCOUNTS  PAYABLE  31B: 

When  advisable  or  necessary  to  carry  accounts  with  creditors  the  credits 
shall  be  made  in  the  Accounts  Payable  column,  and  posted  to  the  credit  of  the  in- 
dividual accounts  in  the  Accounts  Payable  Ledger. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  credited  to  the  Ac- 
counts Payable  31B. 

ACCOUNTS  RECEIVABLE  2: 

Enter  credits  to  accounts  in  the  Accounts  Receivable  Ledger,  not  originating 
in  settlements  recorded  in  Cash  Receipts  and  Settlement  Journal,  Form  1,  and 
post  to  individual  accounts. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  credited  to  the  Ac- 
counts Receivable  2  or  2A,  B,  etc. 

GENERAL  LEDGER,  Credit: 

Enter  credits  to  accounts  having  no  special  column  and  note  account  num- 
ber in  Reference  column. 

Amounts  entered  in  this  column  shall  be  posted  to  accounts  in  General  Ledger. 

LABOR— A: 

Enter  charges  to  labor  accounts  marked  "A"  and  analyze  on  Distribution 
sheet.  Form  6. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  posted  to  Control  A. 

SUPPLIES— B: 

Enter  purchases  or  charges  to  supplies  accounts  marked  **B",  and  analyze 
on  Distribution  sheet.  Form  6. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  posted  to  Control  B. 


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EXPENSES— C: 

Enter  charges  to  expenses  accounts  marked  "C"  and  analyze  on  Distribution 
sheet,  Form  6. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  posted  to  Control  C. 

REPAIRS— D-E: 

Enter  labor  and  material  chargeable  to  repairs  accounts  marked  '*D-E'*,  and 
analyze  on  Distribution  sheet,  Form  6. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  posted  to  Control 
D-E. 

SELLING  AND  ADMINISTRATIVE— 500: 

Enter  items  chargeable  to  accounts  500  to  599  and  analyze  on  Distribution 
sheet,  Form  6. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  posted  to  Control 
500. 

MISCELLANEOUS  ACCOUNTS: 

Enter  items  chargeable  to  accounts  70  to  89,  inclusive,  unless  a  separate  col- 
umn is  used  for  any  of  these.  Analyze  on  distribution  sheet.  Form  6,  and  sum- 
marize at  foot  of  column  at  end  of  month.     Post  totals  to  respective  accounts. 

ACCOUNTS  PAYABLE— 31B: 

Enter  charges  to  accounts  in  the  Accounts  Payable  Ledger  not  originating  in 
Check  Register,  Form  2,  and  post  to  individual  accounts. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  charged  to  Ac- 
counts Payable  31B. 


.YA^ 


GENERAL  LEDGER,  Charge: 

Enter  all  charges  to  accounts  having  no  special  column  and  note  account 
number  in  Reference  column. 

Amounts  entered  in  this  column  shall  be  posted  to  accounts  in  General  Led- 
ger. 

BLANK  COLUMNS: 

These  columns  shall  be  used  when  necessary  to  facilitate  postings  to  accounts 
having  no  special  column  but  numerous  transactions. 


SALES  JOURNAL. 

(Form  4) 
This  form  (especially  devised)  shall  be  used  as  a  Sales  Journal. 

The  following  columns  are  provided  on  this  form: 

DAY: 

Self  explanatory. 

NUMBER: 

It  is  recommended  that  invoices  be  munbered  consecutively  and  numbers  in- 
serted in  this  column. 

CAR: 

Initials — Number.     Self    explanatory. 

SOLD  TO: 

Self  explanatory. 

DESTINATION: 

Self  explanatory. 

ACCOUNTS  RECEIVABLE  2: 

Enter  gro_ss  amount  of  charge  sales  and  post  to  individual  accounts.     Enter 
also  cash  sales  in  one  total  at  the  end  of  the  month. 

One  or  more  columns  may  be  used  depending  on  the  number  of  controlling 
accounts  maintained. 

At  the  end  of  each  month  the  totals  of  these  columns  shall  be  charged  to  Ac- 
counts Receivable  2A,  2B,  etc. 


GENEEAL  LEDGER: 

Enter  charges  to  accounts  having  no  special  column  and  note  account  number 
in  Reference  column. 

If  no  separate  column  is  used  for  local  sales  control  they  shall  be  entered  in 
this  column  at  the  end  of  each  month  in  one  total. 

Lumber  for  Company  use  shall  be  treated  in  the  same  manner. 

Where  lumber  is  invoiced  at  a  price  from  which  commission  or  a  broker's 
concession  has  been  deducted,  the  commission  or  concession  shall  be  entered  in 
this  column  and  credited  under  the  respective  sales  columns.  The  total  of  such 
items  in  the  General  Ledger  column  shall  be  posted  to  Commissions  513.  This 
is  intended  to  include  in  Commissions  513,  the  commission  or  brokerage  conces- 
sion sometimes  deducted  from  the  price  per  M. 

ESTIMATED  FREIGHT: 

See  detailed  information  of  Underweights,  Account  62. 

ACTUAL  FREIGHT: 

See  detailed  information  of  Underweights,  Account  62. 

UNDERWEIGHTS  62 

See  detailed  information  of  Underweights,  Account  62. 

LUMBER  F.O.B.  61: 

Columns  are  provided  for  lumber,  lath,  wood,  box  shooks,  cut-up  products 
and  shingles. 

Enter  feet  or  pieces  and  f.  o.  b.  mill  amount  (i.e.,  invoice  amount  less  esti- 
mated freight)  of  lumber,  and  mill  products.  The  f.  o.  b.  mill  amount  includes 
all  discounts  and  commissions  allowed. 

The  feet  or  pieces  and  f .  o.  b.  amount  recorded  in  these  columns  shall  be 
analyzed  on  Sales  Analysis,  Form  5. 

At  the  end  of  each  month  the  total  sales  shall  be  credited  to  Accounts  61,  63, 
67,  etc.  Lumber  sales  may  be  segregated  into  Rail  61A,  Cargo  61B,  etc.  In 
some  cases  it  may  be  necessary  to  keep  separate  Sales  Journal  sheets  for  Rail, 
Cargo,  etc. 


COMMISSIONS  513-300: 

There  are  two  methods  of  recording  Commissions. 

FIRST — Where  no  individual  accounts  are  maintained  for  salesmen  or 
brokers. 

Enter  name  of  salesman,  rate  and  amount  if  the  commission  is  to  be  paid  by 
check.  Make  out  check  directly  from  this  entry  or  entries,  if  the  check  is  to 
cover  more  than  one  car,  and  note  check  number  in  Reference  column  opposite 
each  item  to  indicate  payment. 

Enter  rate  and  amount  if  the  commission  is  to  be  deducted  from  a  settle- 
ment remittance  and  when  deduction  is  made  note  in  Reference  column  the  folio 
of  Cash  Receipts  and  Settlement  Journal,  Form  1,  on  which  entry  appears. 

At  the  end  of  each  month  the  total  of  this  column  shall  be  charged  to  ac- 
count 513  and  credited  to  account  30C.  The  total  of  unpaid  commissions  which 
is  the  balance  of  account  30C,  must  agree  with  the  total  of  amounts  in  this 
column  opposite  which  no  reference  of  pajonent  appears. 

SECOND — Where  individual  accounts  are  kept  for  salesman  and  brokers. 

Enter  the  name  of  salesman,  rate  and  amount,  indicating  by  ''A*'  the  com- 
missions to  be  paid  by  check,  and  by  "B"  the  commissions  to  be  deducted  by 
purchaser.  / 

Charge  the  total  of  this  column  to  Commissions  513  at  the  end  of  the  month. 

Where  individual  accounts  are  kept  in  a  subsidiary  ledger  for  salesmen, 
credit  the  total  to  Commissions  Payable  30C,  and  post  items  to  the  individual  ac- 
counts. Commissions  to  be  deducted  from  customers'  settlements,  may  be  credit- 
ed to  one  account  designated  as  ''Deductible  Commission." 

Where  there  are  few  salesmen's  accounts  or  where  there  is  no  subsidiary 
ledger  they  may  be  kept  in  the  General  Ledger  and  numbered  30-Cl,  30-02,  etc., 
and  credits  posted  to  these  accounts  individually. 


SALES  ANALYSIS. 
Lumber,  Shingles,  Lath,  etc. 

(Form  5) 

This  form  (especially  devised)  shall  be  used  to  analyze  the  lumber  products 
disposed  of  and  will  be  controlled  by  the  sales  distribution  columns  in  Sales 
Journal,  Form  4. 

The  Fir  total  column  is  for  the  total  of  fir  Sales  in  Quantity  and  Amount. 

Columns  1  to  9,  inclusive,  are  for  the  distribution  of  Fir  lumber  to  the 
Standard  Group  Classifications  adopted  by  the  Industry.  The  items  of  lumber 
comprising  each  group  are  fully  detailed  following  the  explanation  of  this  form. 

The  f .  0.  b.  value  of  lumber  shall  be  calculated  on  copy  of  invoices  in  two 
special  columns  showing  estimated  freight  and  f .  o.  b.  amount  opposite  each 
item  (see  sketch  appended) ,  and  analyzed  as  to  Fir,  entering  feet  and  f .  o.  b. 
amounts  in  respective  columns  on  Sales  Analysis. 

For  the  purpose  of  reference  the  invoice  number  will  be  entered  in  column 
provided  therefor. 

In  the  blank  columns  following  ** Invoice  Number"  show  other  species  such 
as  Cedar,  Spruce,  etc.,  and  make  such  grade  distributions  as  are  desired. 
Shingles  will  also  be  analyzed  as  to  grades  if  desired. 

West  Coast  Price  List  arranged  according  to  Standard  Group  Classifica- 
tions of  Fir  Log. 


GROUP  No.  1— No.  3  Clear  &  Better,  2-in.  and  Under,  40  Ft.  and  Under,  in- 
cludes : 


1x3  to  6  Fir  Flooring. 
1 1/4x3  to  6  Fir  Flooring." 
IV4,  lil>,  2x8  to  12  Stepping. 
1x4  to  12  Finish.  ^ 
11/4x4  to  12  Finish. 


No.  1,  2  and  3  Clear  &  Better. 
No.  1,  2  and  3  Clear  &  Better. 
No.  2  Clear  &  Better. 
No.  2  Clear  &  Better. 
No.  2  Clear  &  Better. 


^ 


lV2x4  to  12  Finish. 

2x4  to  12  Finish. 

4-in.  to  6-in.  Casing. 

8-in.  to  12-in.  Base. 

3/8  x4  Ceiling.^' 

y2x4  Ceiling^' 

5/8x4  Ceiling.>/ 

1x4  Ceiling.^' 

1x4,  6,  8  Droj)  Siding  and  Rustic.*'' 

1x3  Well  Tubing.^ 

1x6  or  2x6  Well  Curbing.  ^ 

1x4  and  6  Corn  Cribbing. 

2-in.  Tank  Stock.  - 

2x4  and  6  Pipe  Stave  Stock. 

2x6  Silo  Staves. 

2-in.  and  3-in.  Battens. 


/ 


Wagon  Bottoms. 

Fir  Pickets. 

Fir  Mouldings.' 
1x4  and  6  Car  Siding  and  Roofing.*^ 
2x4,  8  and  10  Car  Decking. 
1x4  and  6  Car  Lining. 
3/4x8,  10  and  12  Panel  Lumber. 
1-in.,  1^/4,  11/2  and  2-in.  Factory  Lumber. 
1  1/8   and  1 3/8   Sash,   Door  and  Panel 
Stock.  ^ 


No. 
No. 
No. 
No. 
No. 
No. 
No. 
No. 
No. 
No. 
No. 
No. 
No. 
No. 
No. 
No. 
No. 
No. 
No. 


Clear 
Clear 
Clear 
Clear 
Clear 
Clear 
Clear 
Clear 
Clear 
Clear 
Clear 
3  Clear 
2  Clear 
Clear 
Clear 
Clear 
Clear 
Clear 
Clear 


No.  2  Clear 
No.  2  Clear 
No.  2  Clear 
Sel.  &  Btr. 
No.  1  Shop, 


&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better. 
&  Better, 
and  No.  1 


No.  1  Cuttings. 


Shop. 


GROUP  No.  2— No.  3  Clear  &  Better, 

2y2,  3  and  4  (green  only)  Finish.  ^ 

4x4  to  8x8  Fir  Squares. 

3-in.  Tank  Stock.- 

214,  21/2  and  3x6  Pipe  Stave  Stock. 

4x6  and  up  Pipe  Stave  Stock. 

All  Fir  Decking  thicker  than  2-in. 

3x4,  4x5  and  6  Eave  Gutters,  w-* 

All  Porch  Columns.  *^ 

All  Fir  Newals. 

Porch  Rail  thicker  than  2-in. 

Factory  Lumber  thicker  than  2-in. 


over  2-in.,  40  Ft.  and  Under,  includes 

No.  2  Clear  &  Better. 
No.  2  Clear  &  Better. 
No.  2  Clear  &  Better. 
No.  2  Clear  &  Better. 
No.  2  Clear  &  Better. 
No.  2  Clear  &  Better. 
No.  2  Clear  &  Better. 
No.  2  Clear  &  Better. 
No.  2  Clear  &  Better. 
No.  2  Clear  &  Better. 
No.  2  Clear  &  Better. 


■•?« 


GROUP  No.  3— Select  Com.  and  Merch.,  40  Ft.  and  under,  includes: 

1x4  and  6  Corn  Cribbing.         ^  Sel.  Com. 

4x4  and  5x5  Windmill  Stock.  Sel.  Com.  ^     ^,   ^  ^^ 

6x16  and  10x18  Bridge  Stringers.^  Sel.  Com. 

2x6,  8x10  Car  Decking.     - '  Sel.  Com. 
Standard  Car  Framing.*^ 

GROUP  No.  4 — No.  1  Com.  Timbers  6x10  and  larger,  40  Ft.  and  under,  includes: 

6x10  to  24x24  Timbers  40  Ft.  and  Under.  No.  1  Com. 

Bridge   Stringers  and  Car  Sills  40  Ft. 
and  Under. 

GROUP  No.  5 — No.  1  Com.  Plank  3-in.  and  4-in.,  small  timbers  8x8  and  under, 

40  Ft.  and  under,  includes: 

All  Fir  Com.  Plank  and  Small  Timbers. 
Railroad  Ties. 

GROUP  No.  6— Includes  No.  3  Clear  &  Better,  42  Ft.  and  Over: 
Self  Explanatory. 

GROUP  No.  7 — Includes  other  grades  42  Ft.  and  Over: 

Timbers  requiring  two  or  more  cars  42  Ft.  and  longer. 
Car  Sills  42  Ft.  and  longer. 

GROUP  No.  8 — Includes  1-in.  and  2-in.  No.  1  Common: 

1x2  to  12  Boards  or  Shiplap.  No.  1  Com. 

2x3  and  up.  Dimension.  No.  1  Com. 

2x6,  8  and  10  Car  Decking.  No.  1  Com. 

GROUP  No.  9— Includes: 

All  No.  2  Com.  and  poorer  regardless  of  Size. 

In  compiling  the  foregoing  classification  each  item  in  West  Coast  Price  List 
has  been  taken  and  placed  under  its  proper  group.  The  explanation  under  each 
group  will  assist  in  the  placement  of  items  not  listed. 

By  keeping  the  Fir  Lumber  segregation  of  sales,  and  by  classifying  inven- 
tories according  to  the  same  groups,  it  will  be  possible  for  the  mill  to  know  its  log 
run  value  for  any  period  in  percentages  and  the  amount  received  per  grade,  for 
comparison  with  the  Typical  Fir  Log  and  market  values  as  reflected  by  monthly 
statements  issued  by  the  Association. 


r't^'fffTr' 


INVOICE  COPY. 


ACTUAL  SIZE 
91/2  X  11  inclies. 


Estimated 
Freight 


F.  O.  B. 

Amount 


DISTRIBUTION. 

(Form  6) 

This  form  (especially  devised)  shall  be  used  for  making  distribution  as  ex- 
plained in  the  text. 

REFERENCE— AMOUNT 

Above  these  headings  shall  be  shown  the  numbers  of  the  accounts  analyzed 
which  shall  be  grouped  according  to  Chart  of  Accounts  under  controls  A,  B,  C, 
D-E  and  500. 

At  the  end  of  each  month  totals  shall  be  summarized  on  same  form  using  a 
line  for  each  month  and  carrying  cumulation  total  from  month  to  month. 

At  the  end  of  each  month  the  total  items  entered  on  the  distribution  sheets 
must  agree  with  the  balances  of  the  respective  controlling  accounts. 


(0  nno'Hl) 


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JOURNAL  VOUCHER. 

(Form  7.) 

This  form  shall  be  used  for  the  purpose  of  giving  full  detailed  explanatory 
note  with  respect  to  those  journal  entries  otherwise  lacking  documentary  evi- 
dence to  support  the  entry  made  on  Journal  and  Voucher  Register,  Form  3. 


(.V  f'. 


INSURANCE  REGISTER. 

(Form  8) 

This  form  (especially  devised)  shall  be  used  to  record  policies  in  force. 

Enter  policies  grouping  them  as  to  risks  if  possible  and  leaving  a  space  of 
three  lines  between  each  entry. 

Prorate  each  premium  entry. 

At  the  end  of  each  month  total  current  month  column  and  journalyze  as  fol- 
lows: ,,  i 

Dr:  Insurance  558 

Cr :    Unexpired    Insurance  Premiums  


diaow 


PREPAID  SUPPLIES  AND  EXPENSES  REGISTER. 

(Form  9) 

This  form  (especially  devised)  shall  be  used  to  determine  the  monthly 
charge  for  supplies  and  expenses  the  benefit  from  which  extends  beyond  the 
current  month. 

All  items  charged  to  Prepaid  Supplies  and  Expenses  shall  be  entered  in  de- 
tail on  this  form,  an  estimate  made  of  the  number  of  months  during  which  the 
benefit  derived  therefrom  will  accrue  and  the  total  charge  equally  divided  among 
the  months  affected. 

Any  balance  unused  at  the  end  of  fiscal  year  will  be  carried  forward  to  the 
following  year. 

At  the  end  of  each  month  total  current  month  column  and  journalyze  as 
follows : 

Dr:    Operating  Accounts  

Cr:    Prepaid  Supplies  and  Expenses  21  


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ACCOUNTS  RECEIVABLE. 

(Forms  lOA,  lOB,  IOC.) 

These  forms  (especially  devised)  may  be  used  for  individual  accounts  ra- 
ceivable  record. 

Form  lOA  has  been  devised  for  such  concerns  as  desire  to  keep  full  segre- 
gations of  cash,  freight,  commissions,  discounts,  claims,  etc.,  in  vertical  columns 
for  each  customer. 

Form  lOB  has  been  devised  to  facilitate  the  recording  of  settlement  in  part 
and  carrying  forward  balances. 

Form  IOC  has  been  devised  with  the  view  of  maintaining  simply  a  debit  and 
credit  account  on  each  line,  or  for  using  each  block  of  five  spaces  for  a  car,  and 
detailing  settlement  as  to  cash,  freight,  commissions,  discounts,  claims,  etc. 


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PAY  ROLL. 

(Form  15) 

This  form  (especially  devised)  may  be  used  for  pay  roll  purposes.  It  is  in- 
tended that  it  shall  be  used  as  a  recapitulation  of  time,  distribution,  deductions, 
etc.,  for  individual  men  on  time  sheets  shown  by  exhibits  16A  and  16B. 


TIME  SHEETS. 

(Forms  16A  and  16B.) 

These  forms  (especially  devised)  are  for  the  purpose  of  keeping  daily  indi- 
vidual records  for  each  man  of  time  worked,  distribution,  and  in  the  lower  por- 
tion of  forms,  deductions  such  as  hospital  and  first  aid,  board,  advances,  includ- 
ing amounts  and  check  numbers,  etc. 

Only  the  principal  labor  accounts  have  been  shown.  The  blank  lines  shall 
be  used  for  other  accounts  chargeable,  such  as  repairs,  capital  expenditures, 
etc. 

The  total  hours,  rate,  amount  earned,  deductions,  etc.,  are  transferred  to  the 
Pay  Roll,  Form  15,  at  the  close  of  the  month. 

The  distribution  may  either  be  carried  to  the  Pay  Roll  or  consolidated  on 
separate  distribution  sheets,  Form  6. 


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MONTHLY  EEPORT. 

The  monthly  report  comprises  the  following  statements: 

Condensed  Comparative  Balance  Sheet,  Form  30. 

Condensed  Operating  Statement,  Form  31. 

Detailed  Operating  Statements,  Forms  32A,  32B,  32C. 

After  all  the  current  month's  entries  have  been  made  a  Trial  Balance  of 
the  General  Ledger  shall  be  obtained  on  a  Standard  Trial  Balance  Form.  The 
Distribution  sheets,  Form  6,  shall  be  footed  and  the  totals  reconciled  with  the 
controlling  accounts  A,  B,  C,  D-E  and  500. 

No  account  shall  be  closed  monthly. 

Statements  shall  be  prepared  from  the  Trial  Balance,  Distribution  sheets, 
and  Inventories  at  the  end  of  the  month  either  estimated  or  actual. 

The  preparation  of  Statements  should  be  handled  in  the  following  manner: 

Proceed  as  follows: 

STATEMENT  32C. 

Post  in  first  column  from  Distribution  sheets  the  charges  to  Power,  Light 
and  Water  Account  400,  and  show  distribution  of  same. 

Post  charges  to  Shipping,  390A  to  390C,  and  foot. 

Post  charges  to  Administrative,  accounts  550  to  562,  and  distribute  to  de- 
partments affected  according  to  established  method  provided  for  the  distribu- 
tion of  each  account. 

Post  charges  to  Selling,  accounts  510  to  514  and  add  on  line  550-562  pro  rata 
for  administrative  expenses  as  determined  under  ''Administrative."  Total  on 
line  "M,"  and  distribute  to  Lumber,  Shingles,  etc. 

Post  charges  to  Financing,  accounts  570  to  572  (inclusive)  and  574,  total  on 
line  "L,"  deduct  the  total  of  accounts  8b  and  89,  showing  net  amount  on  line  '' J.'' 
This  will  complete  statement  32C. 


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STATEMENT  32B. 

BY  PRODUCTS 

Enter  in  column  1  Sales  for  Lath  63,  and  Wood  and  Sawdust  64. 

Enter  in  column  3  purchases  if  any,  account  93. 

Enter  in  columns  4,  5,  6,  7  and  8  charges    from    distribution,    Form    6,    ac- 
counts 300  and  310. 

Enter  in  column  10  Inventory  at  the  beginning  of  period. 

Enter  in  column  11  Inventory  at  end  of  period. 

Enter  in  column  9  the  difference  between  Inventories,  increase  in  red  and 
decrease  in  black. 

Enter  in  column  2  the  total  of  columns  3  to  9,  inclusive. 

Enter  the  difference  between  columns  1  and  2  in  column  12,  profit  in  black 
and  loss  in  red. 

Total  column  12,  lath  and  wood  net  profit  or  loss  and  insert  on  line  **0.'' 

MISCELLANEOUS   OPERATIONS 

Enter  in  column  1,  Sales  or  revenue  of  Miscellaneous   operations,   less  pro- 
portion of  selling  expenses  as  shown  on  Form  32. 

Enter  in  column  3  purchases  if  any. 

Enter  in  columns  4,  5,  6,  7  and  8  charges  from  Distribution,  Form  6,  adding 
to  column  6  proportion  of  administrative  expenses  from  Form  32 C. 

Enter  in  column  10,  inventory  at  beginning  of  period  if  any. 

Enter  in  column  11,  inventory  at  end  of  period  if  any. 

Enter  in  column  9  the  difference  between  inventories,   increase  in  red  and 
decrease  in  black. 

Enter  in  column  2  the  total  of  columns  3  and  9,  inclusive. 


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Enter  the  difference  between  coliunn  1  and  2  in  column  12,  profit  in  black 
and  loss  in  red. 

Sub  total  column  12  on  line  following  Shingle  Mill. 

Total  column  12,  miscellaneous  net  profit  or  loss  and  insert  on  line  ^'N." 

Transfer  to  Detailed  Operating  Statement,  Form  32A,  in  column  "C"  on 
line  550-562  under  Logging  Costs  and  Manufacturing  Costs,  administrative  ex- 
penses as  shown  in  the  statement  32C. 

Transfer  to  Condensed  Operating  Statement,  Form  31,  in  column  2,  lines  33 
and  34  the  amounts  chargeable  against  Lumber  for  Shipping  and  Selling  ex- 
penses and  in  column  3  line  65  the  net  amount  shown  in  line  **J,"  Form  320. 

Transfer  to  Statement,  Form  31,  on  line  52,  column  2,  net  profit  or  loss  on 
By  Products  shown  on  line  ''O,"  and  on  line  57,  column  2,  amount  shown  on 
line  ' '  N  "  both  on  Statement,  Form  32B. 

STATEMENT  32A. 

Prepare  Statement  Form  32A  as  follows: 

Enter  in  colunms  A,  B,  C,  D  and  E  the  totals  shown  on  Distribution  Sheets, 
Form  6,  accounts  100  to  128,  130,  200  and  221,  229  to  233. 

At  this  point  all  charges  shown  on  the  Distribution  Sheets,  Form  6,  will 
have  been  posted  to  statements,  excepting  573. 

Cross  foot  columns  A,  B,  C,  D  and  E  and  enter  total  in  total  column. 

Foot  all  columns  vertically  as  follows: 

Add  lines  100  to  104,  inclusive,  enter  totals  on  line  Z  and  prove. 

Add  line  Z  to  line  109,  insert  total  on  line  Y  and  prove. 

Add  lines  110  to  115,  inclusive;  insert  totals  on  line  X  and  prove. 

Add  line  X  to  line  119 ;  insert  totals  on  line  W  and  prove. 

Add  lines  120  to  550-562,  inclusive ;  insert  totals  on  line  V  and  prove. 

Add  lines  X,  W  and  V;  insert  totals  on  line  U  and  prove. 


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Add  line  U  to  line  330;  insert  totals  on  line  T  and  prove. 

Add  lines  200  to  221,  inclusive;  insert  totals  on  line  S  and  prove. 

Add  line  S  to  line  229;  insert  total  on  line  R  and  prove. 

Add  lines  230  to  550-562,  inclusive;  insert  totals  on  line  Q  and  prove. 

Add  lines  R  and  Q;  insert  totals  on  line  P  and  prove. 

On  this  form,  by  using  a  second  sheet,  will  also  be  accumulated  the  opera- 
tions for  all  the  months  of  the  year  to  date. 

For  feet  column  see  explanation  under  Scales. 

STATEMENT  31. 

Transfer  from  Statement,  Form  32 A,  total  amount  on  line  T  to  line  4,  and 
total  amount  on  line  P  to  line  27,  in  columns  2  and  6. 

From  Trial  Balance  and  Inventories  the  remaining  amounts  will  be  obtained 
as  follows:  ' 

Line  3,  columns  2  and  6,  balance  of  acount  4A  and  inventories. 

Line  5,  columns  2  and  6,  balance  of  account  90B. 

Add  lines  3,  4  and  5  and  insert  total  on  line  7,  columns  3  and  7. 

Line  8,  columns  3  and  7,  from  inventory. 

Subtract  line  8  from  7  and  insert  difference  on  line  10,  columns  3  and  7. 

Line  13,  columns  2  and  6,  balance  of  account  60A. 

Line  14,  columns  2  and  6,  balance  of  account  60B. 

Line  15,  columns  2  and  6,  balance  of  account  60C. 

Line  16,  columns  2  and  6,  balance  of  account  60D. 

Add  lines  13,  14,  15  and  16,  insert  total  on  line  18,  columns  3  and  7. 

Subtract  total  on  line  10  from  total  on  line  18  and  insert  total  on  line  20, 
columns  3  and  7,  loss  in  red. 


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Line  22,  column  3,  inventory  adjustment    covered    under    "Explanation    of 
Scales." 

Line  25,  columns  2  and  6,  balance  of  account  4B  and  inventory. 

Line  26,  columns  2  and  6,  balance  of  account  90A. 

Line  28,  columns  2  and  6,  balance  of  account  98A. 

Add  lines  25,  26,  27  and  28,  insert  total  on  line  29,  columns  3  and  7. 

Line  30,  columns  3  and  7,  from  inventory  this  amount  not  being  shown  on 
books. 

Subtract  line  30  from  line  29,  insert  difference  on  line  32,  columns  3  and  7. 

Add  lines  33  and  34,  insert  total  on  line  36,  columns  3  and  7. 

Add  lines  32  and  36,  insert  total  on  line  37,  columns  3  and  7. 

Line  39,  columns  2  and  6,  balance  of  account  61  less  balance  of  account  061  A. 

Line  40,  columns  2  and  6,  balance  of  account  62A. 

Add  lines  39  and  40,  insert  total  on  line  42,  columns  3  and  7. 

Subtract  line  37  from  line  42,  insert  difference  on  line  44,  columns  3  and  7, 
loss  in  red. 

Lines  46  and  47,  column  3,  inventory  adjustments  covered  in  ''Explanation 
of  Scales." 

Transfer  balances  of  net  profit  or  loss  shown  on  lines  20  and  44  to  lines  50 
and  51,  column  2. 

Add  lines  50,  51  and  52,  insert  total  on  line  55,  columns  3  and  7. 

Lines  58,  59  and  60,  columns  2  and  6,  balances  of  accounts  86,  87  and  573. 

Add  lines  57,  58,  59  and  60,  insert  total  on  line  64,  columns  3  and  7. 

Add  lines  55,  64  and  65 ;  insert  total  on  line  67,  columns  3  and  7. 

This  last  amount  must  agree  with  Profit   and  Loss   for   Current   Month   as 
shown  on  Balance  Sheet,  Form  10. 


The  Condensed  Comparative  Sheet,  Form  30,  can  now  be  prepared.  The 
Assets  and  Liabilities  at  the  beginning  of  the  fiscal  period  shall  be  entered  and 
totaled  in  column  2. 

The  Assets  and  Liabilities  at  the  end  of  each  month  shall  be  entered  and 
totaled  in  column  1,  the  balances  being  obtained  from  the  Trial  Balance  except- 
ing for  the  Inventories,  account  4,  which  with  the  exception  of  4H,  will  not  be 
used.  The  inventories  of  Logs,  Manufactured  Products  and  Merchandise  used 
to  determine  the  profit  or  loss  in  the  Operating  Statement  shall  be  inserted  in- 
stead. 


METHODS   OF  DETERMINING 
PRODUCTION  AND  SCALES. 

ACTUAL  PRODUCTION. 

When  physical  inventories  are  taken  the  actual  production  of  Logs,  Lumber, 
Shingles,  Lath,  Box  Shooks,  etc.,  shall  be  determined  as  follows: 

To  the  physical  inventory,  at  the  end  add  the  feet  or  pieces  disposed  of  and 
deduct  purchases  and  the  inventory  at  the  beginning.  The  remainder  will  be 
actual  production  for  the  period. 

FEET  TO  USE  ON  FORM  31. 

If  physical  inventories  are  taken  only  periodically,  not  each  month,  these 
inventories  shall  only  be  shown  at  the  end  of  period  on  the  statement,  column  5, 
line  8,  and  the  actual  production  on  line  4,  column  5.  Inventory  adjustments 
necessary  to  bring  the  monthly  statement  in  balance  with  the  period  or  the  cur- 
rent year  to  date  shall  be  made  on  line  22. 

Follow  the  same  procedure  for  lumber.  When  a  physical  inventory  is  taken 
it  shall  be  recorded  in  column  5,  line  30,  and  the  actual  production  in  column  5, 
lines  26  and  27. 

Regardless  of  inventories  the  production  should  be  shown  in  column  1,  line  4, 
for  logs  and  lines  26  and  27  for  lumber,  according  to  the  usual  method  of 
calculating  production  for  monthly  statements. 

To  reconcile  the  statement  for  the  month  to  actual  production  carry  an  in- 
ventory adjustment  item  on  line  47  for  lumber. 

Whenever  it  is  practical  to  take  phj^sical  inventories  each  month  they  should 
of  course  be  used  in  determining  the  production,  line  4  for  logs  and  lines  26  and 
27  for  lumber,  columns  1  and  5. 

Physical  inventories  should  be  taken  at  least  twice  each  year,  on  June  30th 
and  December  31st. 


If  physical  inventories  are  not  taken  each  month  the  best  obtainable  tallies 
should  be  used  in  determining  production.  Tallies  used  for  productions  should 
be  closely  followed  by  the  management  in  order  that  every  precaution  will  be 
taken  to  assure  that  they  reflect  the  actual  as  nearly  as  possible. 

One  of  the  important  features  of  Form  31  is  that  in  recording  the  inventory 
adjustment  as  outlined  and  comparing  this  adjustment  to  the  actual  production 
for  the  year,  column  5,  lines  4,  26  and  27,  it  is  possible  to  check  the  results  ob- 
tained from  tallies  used  and  the  experience  thus  gained  may  be  of  assistance  iu 
adjusting  future  tallies. 

Under  the  logging  portion  of  statement  the  production  is  to  be  reported  in 
Log  Scale  feet,  and  all  calculations  in  so  far  as  logs  are  concerned  made  on  this 
basis.  ji 

The  feet  shown  on  line  26  for  logs  sawn  is  the  BM  production,  either  a 
known  quantity  determined  by  inventories  or  an  estimated  quantity  determined 
by  tallies.  The  dollars  are  the  same  as  line  13,  but  the  footage  is  increased  by 
over  run  of  lumber  scale  over  log  scale,  either  a  known  quantity  or  estimated, 
based  on  scales  available.     The  footage  shown  on  lines  26  and  27  are  the  same. 

All  quantities  used  on  lines  32  and  below  should  be  the  footage  disposed  of. 
If  it  is  desired  to  analyze  Selling  line  31  for  sales  it  should  be  done  on  a  supple- 
mentary statement. 

FEET  TO  USE  ON  FORM  32A. 

100  Contract  Logging — Log  Scale  feet  delivered  by  contractors. 

101  Rigging  Ahead — Log  Scale  feet  delivered  to  pond  from  Company's  Logging 

Operation. 

102  Falling  and  Bucking — Log  Scale  feet  Failed  and  Bucked  if  available,  other- 

wise feet  delivered  to  pond. 

103  Yarding  and  Loading — Log  Scale  feet    delivered   to    pond   by    Company's 

Logging  Operations. 

104  Wire  Rope — Same  feet  as  for  103. 
Z    Total— Same  feet  as  for  103. 


109  Depreciation — Same  feet  as  for  103 
Y     Total — Same  feet  as  for  103. 

110  Railroad — Same  feet  as  for  103. 

111  Spur  Tracks — Same  feet  as  for  103. 

112  Water  Haul — Log  Scale  feet  hauled  by  water. 

113  Other  Haul — Log  Scale  feet  hauled. 

114  Booming  and  Rafting — Log  Scale  feet  handled  by  boom. 

115  Boom  Stick  Towing — Log  Scale  feet  sold. 
120  to  123,  inclusive — Same  feet  as  for  103. 
128    Logs  Lost — Same  feet  as  for  103. 

550  to  T,  inclusive — Same  feet  as  for  103. 

200  Pond  and  Log  Yard  Cost — BM  Production   of   plant   based   on   actual    or 

tallies. 

201  Saw  Mill— Same  feet  as  for  200. 

202  Sorting  Table — BM  over  tables,  i.  e.,  total  production  less  footage  not  pass- 

ing over  tables. 

203  Dry  Kiln— BM  handled  thru  kilns. 

204  Timber  Dock — BM  handled  over  timber  dock. 

205  Transportation — BM  handled  by  transportation  facilities. 

206  Piling— BM  piled. 

207  Rough  Dry  Shed— BM  to  Dry  Shed. 

208  Dry  Sorting — BM  over  dry  sorting  chain. 

209  Finished  Shed— BM  handled. 

210  General — Same  feet  as  for  200. 

220  Planing  Mill— BM  planed. 

221  Sizer— BM  thru  sizer. 

S  to  P,  inclusive — Same  feet  as  for  200. 


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